UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.


FORM 10


GENERAL FORM FOR REGISTRATION OF SECURITIES

Pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934



CCJ Acquisition Corp.

( Exact name of registrant as specified in its charter )


Commission file number




Florida

45-1967797

( State of other jurisdiction of incorporation or organization )

( IRS Employer Identification No.)




8200 Seminole Boulevard, Seminole, Florida 33772

( Address of Principal Executive Offices ) ( Zip Code )



(727) 322-5111

( Registrant’s telephone number, including area code )


Securities to be Registered Under Section 12(b) of the Act:

None


Securities to be Registered Under Section 12(g) of the Act:

Common Stock, Par Value $0.001

(Title of Class)



Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.



Large accelerated filer         [ ]

Accelerated filer                             [ ]

Non-accelerated filer           [ ] (Do not check if a  

                                             smaller reporting company)

Smaller reporting company            [x]










Item 1. Business


(a)

Business Development


CCJ Acquisition Corp. (“we”, “us”, “our”, the “Company” or the “Registrant”) was incorporated in the State of Florida on April 21, 2011.  Since inception, which was April 21, 2011, the Company has been engaged in organizational efforts and obtaining initial financing.  The Company was formed as a vehicle to pursue a business combination and has made no efforts to identify a possible business combination.  As a result, the Company has not conducted negotiations or entered into a letter of intent concerning any target business.  The business purpose of the Company is to seek the acquisition of or merger with, and existing company.  The Company selected May 31 as its fiscal year end.



(b)

Business of Issuer


The Company, based on proposed business activities, is a “blank check” company.  The U.S. Securities and Exchange Commission (the “SEC”) defines those companies as “any development stage company that is issuing a penny stock, within the meaning of Section 3 (a)(51) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies.”  Under SEC Rule 12b-2 under the Exchange Act, the Company also qualifies as a “shell company,” because it has no or nominal assets (other than cash) and no or nominal operations.  Many states have enacted statutes, rules and regulations limiting the sale of securities of “blank check” companies in their respective jurisdictions.  Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully concluded a business combination.  The Company intends to comply with the periodic reporting requirements of the Exchange Act for so long as it is subject to those requirements.


The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation.  The Company’s principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings.  The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.


The analysis of new business opportunities will be undertaken by or under the supervision of Jay D. Solomon, the officer and director of the Registrant.  As of this date, the Company has not entered into any definitive agreement with any party, nor have there been any specific discussions with any potential business combination candidate regarding business opportunities for the Company.  The Registrant has unrestricted flexibility in seeking, analyzing and participating in potential business opportunities.  In its efforts to analyze potential acquisition targets, the Registrant will consider the following kinds of factors:



(a)

 Potential for growth, indicated by new technology, anticipated market expansion or new products;



(b)

Competitive position as compared to other firms of similar size and experience within the industry segment as well as with the industry as a whole;


(c)

Strength and diversity of management, either in place or scheduled for recruitment;


(d)

Capital requirements and anticipated availability of required funds, to be provided by the Registrant or from operations, through the sale of additional securities, through joint ventures or similar arrangements or from other sources;




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(e)

The cost of participation by the Registrant as compared to the perceived tangible and intangible values and potentials;


(f)

The extent to which the business opportunity can be advanced;


(g)

The accessibility of required management expertise, personnel, raw materials, services, professional assistance and other required items; and


(h)

Other relevant factors.


In applying for foregoing criteria, no one of which will be controlling, management will attempt to analyze all factors and circumstances and make a determination based upon reasonable investigative measures and available data.  Potentially available business opportunities may occur in many different industries, and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.  Due to the Registrant’s limited capital available for investigation, the Registrant may not discover or adequately evaluate adverse facts about the opportunity to be acquired.



FORM OF ACQUISITION


The manner in which the Registrant participates in an opportunity will depend upon the nature of the opportunity, the respective needs and desires of the Registrant and the promoters of the opportunity, and the relative negotiating strength of the Registrant and such promoters.


It is likely that the Registrant will acquire its participation in a business opportunity through the issuance of common stock or other securities of the Registrant.  Although the terms of any such transaction cannot be predicted, it should be noted that in certain circumstances the criteria for determining whether or not an acquisition is a so-called “tax free” reorganization under Section 368(a)(1) of the Internal Revenue Code of 1986, as amended (the “Code”) depends upon whether the owners of the acquired business own 80% or more of the voting stock of the surviving entity.  If a transaction were structured to take advantage of these provisions rather than other “tax free” provisions provided under the Code, all prior stockholders would in such circumstances retain 20% or less of the total issued and outstanding shares of the surviving entity.


In addition, depending upon the transaction, the Registrant’s current stockholders may be substantially diluted to less than 20% of the total issued and outstanding shares of the surviving entity and possibly even eliminated as stockholders by an acquisition.


The present stockholders of the Registrant will likely not have control of a majority of the voting securities of the Registrant following a reorganization transaction.  As part of such a transaction, all, or a majority of, the Registrant’s directors may resign and one or more new directors may be appointed without any vote by stockholders.


In the case of an acquisition, the transaction may be accomplished upon the sole determination of management without any vote or approval by stockholders.  In the case of a statutory merger or consolidation directly involving the Company, it will likely be necessary to call a stockholders’ meeting and obtain the approval of the holders of a majority of the outstanding securities.  The necessity to obtain such stockholder approval may result in delay and additional expense in the consummation of any proposed transaction and will also give rise to certain appraisal rights to dissenting stockholders.  Most likely, management will seek to structure any such transaction so as not to require stockholder approval.


It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial cost for accountants, attorneys and others.  If a decision is made not to participate in a specific business opportunity, the costs theretofore incurred in the



3



related investigation might not be recoverable.  Furthermore, even if an agreement is reached for the participation in a specific business opportunity, the failure to consummate that transaction may result in the loss to the Registrant of the related costs incurred.


We presently have no employees apart from our management.  Our officers and directors are engaged in outside business activities and anticipate that they will devote to our business very limited time until the acquisition of a successful business opportunity has been identified.  We expect no significant changes in the number of our employees other than such changes, if any, incident to a business combination.


(c)

Reports to security holders.


(1)

The Company is not required to deliver an annual report to security holders and at this time does not anticipate the distribution of any such report.

(2)

The Company will file reports with the SEC.  The Company will be a reporting company and will comply with the requirements of the Exchange Act.

(3)

The public may read and copy any materials the Company files with the SEC in the SEC’s Public Reference Section, Room 1580, 100 F Street N.E., Washington, D.C. 20549.  The public may obtain information on the operation of the Public Reference Section by calling the SEC at 1-800-SEC-0330.  Additionally, the SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, which can be found at http://www.sec.gov .



Item 1A.  Risk Factors


There may be conflicts of interest between our management and our non-management stockholders and management may have incentives to act adversely to the non-management stockholders.


Conflicts of interest create the risk that management may have an incentive to act adversely to the interests of our stockholders.  A conflict of interest may arise between our management’s personal pecuniary interest and its fiduciary duty to our stockholders.  


Our business is difficult to evaluate because we have no operating business and our shareholders will not know what business we will enter into until we effectuate a transaction.


As we have no operating history or revenue and only minimal assets, there is a risk that we will be unable to continue as a going concern and consummate a business combination.  We have had no recent operating history nor any revenues or earnings from operations since inception.  We have no significant assets or financial resources.  We will, in all likelihood, sustain operating expenses without corresponding revenues, at least until the consummation of a business combination.  This may result in our incurring a net operating loss that will increase continuously until we can consummate a business combination with a profitable business opportunity.  There can be no assurances that we can identify a suitable business opportunity and consummate a business combination.


There is competition for those private companies suitable for a merger transaction of the type contemplated by management and as a non-trading company we are a competitive disadvantage to some of our competitors and may reduce the likelihood of us consummating a deal.


We are in a highly competitive market for a small number of business opportunities which could reduce the likelihood of consummating a successful business combination.  We are and will continue to be an insignificant participant in the business of seeking mergers with, joint ventures with and acquisitions of small private and public entities.  A large number of established and well-financed entities, including small public companies and venture capital firms, are active in mergers and acquisitions of companies that may be desirable target candidates for us.  Nearly all these entities have significantly greater financial resources, technical expertise and managerial capabilities than we do; consequently, we will be at a competitive



4



disadvantage in identifying possible business opportunities and successfully completing a business combination.  These competitive factors may reduce the likelihood of our identifying and consummating a successful business combination.


We are a development stage company, and our future success is highly dependent on the ability of management to locate and attract a suitable acquisition.


We were incorporated in April 2011 and are considered to be in the development stage.  The nature of our operations is highly speculative, and there is a consequent risk of loss of your investment.  The success of our plan of operation will depend to a great extent on the operations, financial condition and management of the identified business opportunity.  While management intends to seek business combination(s) with entities having established operating histories, we cannot assure you hat we will be successful in locating candidates meeting that criterion.  In the event we complete a business combination, the success of our operations may be dependent upon management of the successor firm or venture partner firm and numerous other factors beyond our control.


We have no existing agreement for a business combination or other transaction and there is no guarantee that we will be able to negotiate a transaction that will benefit our shareholders.


We have no arrangement, agreement or understanding with respect to engaging in a merger with, joint venture with or acquisition of, a private or public entity.  No assurances can be given that we will successfully identify and evaluate suitable business opportunities or that we will conclude a business combination.  Management has not identified any particular industry or specific business within an industry for evaluation.  We cannot guarantee that we will be able to negotiate a business combination on favorable terms, and there is consequently a risk that funds allocated to the purchase of our shares will not be invested in a company with active business operations.


Management intends to devote only limited amount of time to seeking a target company which may adversely impact our ability to identify a suitable acquisition candidate.



While seeking a business combination, management anticipates devoting very limited time to our affairs.  Our officers have not entered into written employment agreements with us and are not expected to do so in the foreseeable future.  This limited commitment may adversely impact our ability to identify and consummated a successful business combination.


The time and cost of preparing a private company to become a public reporting company may preclude us from entering into a merger or acquisition with the most attractive private companies.


Target companies that fail to comply with SEC reporting requirement may delay or preclude acquisition.  Sections 13 and 15(d) of the Exchange Act require reporting companies to provide certain information about significant acquisitions, including certified financial statements for the company acquired, covering one, two, or three years, depending on the relative size of the acquisition.  The time and additional costs that may be incurred by some target entities to prepare these statements may significantly delay or essentially preclude consummation of an acquisition.  Otherwise suitable acquisition prospects that do not have or are unable to obtain the required audited statements may be inappropriate for acquisition so long as the reporting requirements of the Exchange Act are applicable.


We may be subject to further government regulation which would adversely affect our operations.


Although we will be subject to the reporting requirements under the Exchange Act, management believes we will not be subject to regulation under the Investment Company Act of 1940, as amended (the “Investment Company Act”), since we will not be engaged in the business of investing or trading in securities.  If we engage in business combinations which result in our holding passive investment interests in a number of entities, we could be subject to regulation under the Investment Company Act.  If so, we would be required to register as an investment company and could be expected to incur significant



5



registration and compliance costs.  We have obtained no formal determination from the SEC as to our status under the Investment Company Act and, consequently, violation of the Investment Company Act could subject us to material adverse consequences.


Any potential acquisition or merger with a foreign company may subject us to additional risks.


If we enter into a business combination with a foreign company, we will be subject to risks inherent in business operations outside of the United States.  These risks include, for example, currency fluctuations, regulatory problems, punitive tariffs, unstable local tax policies, trade embargoes, risks related to shipment of raw materials and finished goods across national borders and cultural and language differences.  Foreign economies may differ favorably or unfavorably from the United States economy in growth of gross national product, rate of inflation, market development, rate of savings, and capital investment, resource self-sufficiency and balance of payments positions, and in other respects.


There is currently no trading market for our common stock, and liquidity of shares of our common stock is limited.


Our shares of common stock are not registered under the securities laws of any state or other jurisdiction, and accordingly there is no public trading market for our common stock.  Further, no public trading market is expected to develop in the foreseeable future unless and until the Company completes a business combination with an operating business and the Company thereafter files a registration statement under the Securities Act of 1933, as amended (the “Securities Act”).  Therefore, outstanding shares of our common stock cannot be offered, sold, pledged or otherwise transferred unless subsequently registered pursuant to, or exempt from registration under, the Securities Act and any other applicable federal or state securities laws or regulations.


Please note that shareholders of our common stock may not rely on Rule 144 of the Securities Act of 1933 and must register any re-sales of your common stock under the Securities Act of 1933.


Compliance with the criteria for securing exemptions under federal securities laws and the securities laws of the various states is extremely complex, especially in respect of those exemptions affording flexibility and the elimination of trading restrictions in respect of securities received in exempt transactions and subsequently disposed of without registration under the Securities Act or state securities laws.


There are issues impacting liquidity of our securities with respect to the fact that we will need to file a resale registration statement to create liquidity in our common stock.


Since our shares of common stock issued prior to a business combination or reverse merger cannot currently, nor will they for a considerable period of time after we complete a business combination, be available to be offered, sold, pledged or otherwise transferred without being registered pursuant to the Securities Act, we will likely file a resale registration statement on Form S-1, or some other available form, to register for resale such shares of common stock.  We cannot control this future registration process in all respects as some matters are outside our control.  Even if we are successful in causing the effectiveness of the resale registration statement, there can be no assurances that the occurrence of subsequent events may not preclude our ability to maintain the effectiveness of the registration statement.  Any of the foregoing items could have adverse effects on the liquidity of our shares of common stock.


We have never paid dividends on our common stock and if we do not pay dividends in the future then our shareholders can only benefit from their shares by selling such stock either in the public market place or in a private transaction.


We have never paid dividends on our common stock and do not presently intend to pay any dividends in the foreseeable future.  We anticipate that any funds available for payment of dividends will be re-invested into us to further our business strategy.




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We may be subject to certain tax consequences in our business, which may increase our cost of doing business.


We may not be able to structure our acquisition to result in tax-free treatment for the companies or their stockholders, which could deter third parties from entering into certain business combinations with us or result in being taxed on consideration received in a transaction.  Currently, a transaction may be structured so as to result in tax-free treatment to both companies, as prescribed by various federal and state tax provisions.  We intend to structure any business combination so as to minimize the federal and state tax consequences to both us and the target entity; however, we cannot guarantee that the business combination will meet the statutory requirements of a tax-free reorganization or that the parties will obtain the intended tax-free treatment upon a transfer of stock or assets.  A non-qualifying reorganization could result in the imposition of both federal and state taxes that may have an adverse effect on both parties to the transaction.


Our business will have no revenue unless and until we merge with or acquire an operating business.


We are a development stage company and have had no revenue from operations.  We may not realize any revenue unless and until we successfully merge with or acquire an operating business.


We intend to issue more shares in a merger or acquisition, which will result in substantial dilution.


Our Certificate of Incorporation authorizes the issuance of a maximum of 900,000,000 shares of common stock and a maximum of 750,000,000 shares of preferred stock.  Any merger or acquisition effected by us may result in the issuance of additional securities without stockholder approval and may result in substantial dilution in the percentage of our common stock held by our then existing stockholders. Moreover, the common stock issued in any such merger or acquisition transaction may be valued on an arbitrary or non-arm’s-length basis by our management, resulting in an additional reduction in the percentage of common stock held by our then existing stockholders.  Our Board of Directors has the power to issue any or all of such authorized but unissued shares without stockholder approval.  To the extent that additional shares of common stock or preferred stock are issued in connection with a business combination or otherwise, dilution to the interested of our stockholders will occur and the rights of the holders of common stock might be materially adversely affected.


Our principal stockholders may engage in a transaction to cause us to repurchase their shares of common stock.


In order to provide an interest in us to a third party, our stockholders may choose to cause us to sell our securities to one or more third parties, with the proceeds of such sale(s) being utilized by us to repurchase shares common stock held by them.  As a result of such transaction(s), our management, principal stockholder(s) and Board of Directors may change.


We have conducted no market research or identification of business opportunities, which may affect our ability to identify a business to merge with or acquire.


We have not conducted market research concerning prospective business opportunities, nor have others made the results of such market research available to us.  Therefore, we have no assurances that market demand exists for a merger or acquisition as contemplated by us.  Our management has not identified any specific business combination or other transactions for formal evaluation by us, such that it may be expected that any such target business or transaction will present such a level of risk that conventional private or public offerings of securities or conventional bank financing will not be available. There is no assurance that we will be able to acquire a business opportunity on terms favorable to us. Decisions as to which business opportunity to participate in will be unilaterally made by our management, which may act without the consent, vote or approval of our stockholders.


Our shares may be subject to the “penny stock” rules, following such a reverse merger transaction which might subject you to restrictions on marketability and may not be able to sell your shares.




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If our common stock becomes tradable in the secondary market, we will be subject to the penny stock rules adopted by the Securities and Exchange Commission that require brokers to provide extensive disclosure to their customers prior to executing trades in penny stocks.  These disclosure requirements may cause a reduction in the trading activity of our common stock, which in all likelihood would make it difficult for our shareholders to sell their securities.


Additional risks may exist since we will assist a privately held business to become public through the “reverse merger.”  Securities analysts of major brokerage firms may not provide coverage of us since there is no incentive to brokerage firms to recommend the purchase of our common stock.  No assurance can be given that brokerage firms will want to conduct any secondary offerings on behalf of our post-merger company in the future.  Failure to develop or maintain an active trading market for our common stock will have a generally negative effect on the price of our common stock and you may be unable to sell your common stock or any attempted sale of such common stock may have the effect of lowering the market price.  Your investment could be a partial or complete loss.


Penny stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system.)  Penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document that provides information about penny stocks and the risks in the penny stock market.  The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson in the transaction, and monthly account statements showing the market value of each penny stock held in the customer’s account.  The broker-dealer must also make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written agreement to the transaction.  These requirements may have the effect of reducing the level of trading activity, if any, in the secondary market for a security that becomes subject to the penny stock rules.  The additional burdens imposed upon broker-dealers by such requirements may discourage broker-dealers from effecting transactions in our securities, which could severely limit the market price of liquidity of our securities.  These requirements may restrict the ability of broker-dealers to sell our common stock and may affect your ability to resell our common stock.


  We cannot assure you that following a business combination with an operating business, our common stock will be listed on NASDAQ or any other securities exchange and therefore it is possible that our stockholders will not be able to liquidate their investment in our stock and we may not access to capital available to companies trading on these exchanges.


Following a business combination, we may seek the listing of our common stock on NASDAQ or the American Stock Exchange.  However, we cannot assure you that following such a transaction, we will be able to meet the initial listing standards of either of those or any other stock exchange, or that we will be able to maintain a listing of our common stock on either of those or any other stock exchange.  After completing a business combination, until our common stock is listed on the NASDAQ or another stock exchange, we expect that our common stock would be eligible to trade on the OTC Bulletin Board, another over-the-counter quotation system, or on the “pink sheets,” where our stockholders may find it more difficult to dispose of shares or obtain accurate quotations as to the market value of our common stock.  In addition, we would be subject to an SEC rule that, if it failed to meet criteria set forth in such rule, imposes various practice requirements on broker-dealers who sell securities governed by the rule to persons other than established customers and accredited investors. Consequently, such rule may deter broker-dealers from recommending or selling our common stock, which may further affect its liquidity.  This would also make it more difficult for us to raise additional capital following a business combination.


Our authorization of blank check preferred stock could be used to discourage a take-over transaction involving an actual or potential change in control of us or our management.


Our Certificate of Incorporation authorizes the issuance of up to 750,000,000 shares of preferred stock with designations, rights and preferences determined from time to time by our Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue preferred stock



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with dividend, liquation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the common stock.  In the event of issuance, the preferred stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company.  Although we have no present intention to issue any shares of our authorized preferred stock, there can be no assurance that the Company will not do so in the future.



The registration statement contains forward-looking statements and information relating to us, our industry and to other businesses.


These forward-looking statements are based on the beliefs of our management, as well as assumptions made by the information currently available to our management.  When used in this registration statement, the words “estimate,” “project,” “anticipate,” intend,” “except” and similar expressions are intended to identify forward-looking statements.  These statements reflect our current views with respect to the future events and are subject to risks and uncertainties that may cause our actual results to differ materially from those contemplated in our forward-looking statements.  We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this registration statement.  We do not undertake any obligation to publicly release any revisions of these forward-looking statements to reflect events or circumstances after the date of this registration statement or to reflect the occurrence of unanticipated events.


Item 2. Financial Information


MANAGEMENT’S DICUSSION AND ANALYSIS OR PLAN OF OPERATION.


We were organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation.  Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings.  We will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.


We do not currently engage in any business activities that provide cash flow.  The costs of investigating and analyzing business combinations for the next 12 months and beyond such time will be paid with money in our treasury or with additional amounts, as necessary, to be loaned to or invested in us by our stockholders, management or other investors.


During the next 12 months we anticipate incurring costs related to:


(i)

filing of Exchange Act reports, and


(ii)

consummating an acquisition


We believe we will be able to meet these costs through use of funds in our treasury and additional amounts, as necessary to be loaned by our invested in us by our stockholders, management or other investors.


We are in the development stage and have negative working capital, negative stockholders’ equity and have not earned any revenues from operations to date.  These conditions raise substantial doubt about our ability to continue as a going concern. We are currently devoting our efforts to locating merger candidates.  Our ability to continue as a going concern is dependent upon our ability to develop additional sources of capital, locate and complete a merger with another company, ultimately, achieve profitable operations.


We may consider a business which has recently commenced operations, in a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product



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or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital.  In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.


Our officers and directors have not had any preliminary contact or discussions with any representative of any other entity regarding a business combination with us.  Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings.  In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies.  In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.


Our management anticipates that it will likely be able to effect only one business combination, due primarily to our limited financing and dilution of interest for present and prospective stockholders, which is like to occur as a result of our management’s plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization.  This lack of diversification should be considered to a substantial risk in investing in us, because it will not permit us to offset potential losses from one venture against gains from another.


We anticipate that the selection of a business combination will be complex and extremely risky. Because of general economics conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital which we will have and/or perceived benefits of becoming a publicly traded corporation, Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock.  Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.


Item 3. Properties


We neither rent nor own any properties. We utilize the office space and equipment of our management at no cost. Management estimates such amounts to be immaterial. We currently have no policy with respect to investments or interests in real estate, real estate mortgages or securities of, or interests in, persons primarily engaged in real estate activities.


Item 4. Security Ownership of Certain Beneficial Owners and Management


(a)

Security ownership of certain beneficial owners.


The following table sets forth, as of July 20, 2011, the number of shares of common stock owned of record and beneficially by executive officers, directors and persons who beneficially  own more then 5% of the outstanding shares of our common stock.


Name and Address of Beneficial Owner

Amount and Nature of

Beneficial Ownership

Percentage of Class

Jay D. Solomon (1)                                                                        

8200 Seminole Blvd.

Seminole, FL 33772

1,000,000

33.33%

Charles Godels

8200 Seminole Blvd.

Seminole, FL 33772

1,000,000

33.33%

Nancy Hunt

8200 Seminole Blvd.

Seminole, FL 33772

1,000,000

33.33%



(1) Jay D. Solomon serves as President and Director of the Company.


Item 5. Directors and Executive Officers.


A.

Identification of Directors and Executive Officers.


Our officers and directions and additional information concerning them are as follows:


Name

Age

Position

Jay D. Solomon(1)

54

President, Director (1)


(1) Jay D. Solomon will serve as a director until the next annual shareholder meeting.


Jay D. Solomon, President and Director


Jay D. Solomon has served as our President/Chairman of the Board of Directors since the inception of the Company. Mr. Solomon holds a B.A. degree from University of South Florida in Accounting. He sat and passed all four (4) parts of C.P.A. Exam in 1986. His current Memberships/Affiliations include the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants. Since December, 1993 when he became a partner in Godels & Solomon, L.C., C.P.A.’s he has continued as a managing member/partner in Godels & Solomon, LLC ("G&S"). His focus is "Traditional" (audit, accounting, estate & tax) and "nontraditional" (forecasts, projections, start-up’s, obtaining business financing, cash flow management services) services. His emphasis is on clients in the healthcare industry, dental industry, and resident owned mobile home park cooperatives for which he provides audit and ancillary services. However, he also provides these services, intermittently to clients in real estate, franchised fast food restaurants, marketing/distribution, automotive industry, retail, and a variety of other professional service businesses (law, architecture, mortuary services, etc.).  Additionally, he has assisted various clients in the process of taking their small privately owned companies public. Mr. Solomon was the Treasurer and a Director of MCG Diversified, Inc. a reporting company with the S.E.C.  He began his positions at MCG in January 2001 and resigned on June 7, 2004.  Mr. Solomon was an integral part of the Board of Directors that constructed the acquisition of Electro Energy through a wholly-owned subsidiary of MCG. Mr. Solomon was the President and Chairman of the Board of  Ivecon Corporation, a reporting company with the S.E.C. He began his position in 2004 and resigned in 2009. Mr. Solomon was an integral part of the Board of Directors that constructed the sale of Ivecon Corporation to Belmont Partners.


B.

Significant Employees.  None.


C.

Family Relationships.  None.


D.

Involvement in Certain Legal Proceedings. There have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders of decrees material to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of Registrant during the past five years.




11



E.

The Board of Directors acts as the Audit Committee, and the Board has no separates committees.  The Company has no qualified financial expert at this time because it has not been able to hire a qualified candidate. Further, the Company believes that it has inadequate financial resources at this time to hire such expert.  The Company intends to continue to search for a qualified individual for hire.


Item 6. Executive Compensation


The Company’s sole officer and director has not received any cash remuneration since inception. He will not receive any remuneration until the consummation of an acquisition.  No remuneration of any nature has been paid for on account of services rendered by a director in such capacity. Our officers and directors intend to devote very limited time to our affairs.


It is possible that, after the Company successfully consummates a business with an unaffiliated entity, that the entity may desire to employ or retain one or a number of members of our management for the purposes of providing services to the surviving entity.  However, the Company has adopted a policy whereby the offer of any post-transaction employment to members of management will not be a consideration in our decision whether to undertake any proposed transaction.


No retirement, pension, profit sharing, stock option or insurance programs or other similar programs have been adopted by the Company for the benefit of its employees.


There are no understandings or agreements regarding compensation our management will receive after a business combination that is required to be included in this table, or otherwise.


Item 7. Certain Relationship and Related Transactions, and Director Independence


We utilize the office space and equipment of our management at no cost.


On April 21, 2011, 1,000,000 shares were issued to Jay D. Solomon, our sole officer and director.


Except as set forth above, there have been no related party transactions, or any other transactions or relationships required to be disclosed.


We have not:


·

Established our own definition for determining whether our director or nominees for directors are “independent” nor has it adopted any other standard of independence employed by any national securities exchange or inter-dealer quotation system, though our current directors would not be deemed to be “independent” under any applicable definition given that they are officers of the company; nor,


·

Established any committees of the Board of Directors.



Given the nature of our company, its limited shareholder base and the current composition of management, the Board of Directors does not believe that we require any corporate governance committees at this time. The Board of Directors takes the position that management of a target business will establish:


·

Its own Board of Directors


·

Establish its own definition of “independent” as related to directors and nominees for directors,



·

Establish committees that will be suitable for its operations after the Company consummates a business combination



12




Item 8. Legal Proceedings


Presently, there are not any material pending legal proceedings to which the Registrant is a party or as to which any of its property is subject, and no such proceedings are known to the Registrant to be threatened or contemplated against it.


Item 9. Market Price and Dividends on the Registrant’s Common Equity and Related Stockholder Matters


(a)

Market information


Our Common Stock is not trading on any stock exchange.


(b)

Holders


As of July 20, 2011, there are three holders of an aggregate of 3,000,000 shares of our Common Stock issued and outstanding.


(c)

Dividends.


We have not paid any cash dividends to date and do not anticipate or contemplate paying dividends in the foreseeable future. It is the president intention of management to utilize all available funds for the development of the Registrant’s business.


Item 10. Recent Sale of Unregistered Securities


On April 21, 2011, 1,000,000 shares each were issued to Jay D. Solomon, Charles Godels and Nancy Hunt for cash consideration of $1,000.00 each for an aggregate amount of $3,000.00..  Such shares were issued pursuant to an exemption from registration at Section 4(2) of the Securities Act of 1933.  These shares of our common stock qualified for exemption under Section 4(2) of the Securities Act of 1933 since the issuance of shares by us did not involve a public offering.  The offering was not a “public offering” as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares offered.  We did not undertake an offering in which we sold a high number of shares to a high number of investors.  In addition, these shareholders had necessary investment intent as required by Section 4(2) since they agreed to and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933.  This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part of a “public offering.”  Based on an analysis of the above factors, we have met the requirements to qualify for exemption under section 4(2) of the Securities Act of 1933 for this transaction.



Item 11. Description of Registrant’s Securities to be Registered


(a)

Common and Preferred Stock.


We are authorized by its Certificate on Incorporation to issue an aggregate of 1,650,000,000 shares of capital stock, of which 900,000,000 are shares of common stock, par value $0.001 per share (the “Common Stock”) and 750,000,000 are shares of preferred stock, par value $0.001 per share (the “Preferred Stock”).  As of July 20, 2011, 3,000,000 shares of Common Stock and zero shares of Preferred Stock were issued and outstanding.


Common Stock


All outstanding shares of Common Stock are of the same class and have equal rights and attributes. The holders of Common Stock are entitled to one vote per share on all matter submitted to a vote



13



of stockholders of the Company.  All stockholders are entitled to share equally dividends, if any, as may be declared from time to time by the Board of Directors out of funds legally available.  In the event of liquidation, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of all liabilities.  The stockholders do not have cumulative or preemptive rights.


Preferred Stock


Our Certificate of Incorporation authorizes the issuances of up to 750,000,000 shares of Preferred Stock with designations, rights and preferences determined from time to time by its Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the Common Stock.  In the event of issuance, the Preferred Stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company.  Although we have no present intention to issue any shares of its authorized Preferred Stock, there can be no assurance that the Company will not do so in the future.


The description of certain matters relating to the securities of the Company is a summary and is qualified in its entirely by the provisions of the Company’s Certificate of Incorporation and By-Laws, copies of which have been filed as exhibits to this Form 10.


(b)

Debt Securities.


None.


(c)

Other Securities To Be Registered.


None.



Item 12. Indemnification of Directors and Officers


Our directors and officers are indemnified as provided by the Florida corporate law and our Bylaws.  We have agreed to indemnify each of our directors and certain officers against certain liabilities, including liabilities under the Securities Act of 1933.  Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the adjudication of such issue.


We have been advised that in the opinion of the Securities Exchange Commission indemnification for liabilities arising under the Securities Act against public policy as expressed in the Securities Act, and is, therefore, unenforceable.   In the event that a claim for indemnification against such liabilities is asserted by one of our directors, officers, or controlling persons in connection with the securities being registered, we will, unless in the opinion of our legal counsel the matter has been settled by controlling precedent, submit question of whether such indemnification is against public policy to a court of appropriate jurisdiction.  We will then be governed by the court’s decision.







14



Item 13. Financial Statements and Supplementary Data



CCJ ACQUISITION CORP.

(A Development Stage Entity)


INDEX TO FINANCIAL STATEMENTS

 

 

 

 

 

 

 

 

 

Page

 

 

 

 

 

 

 

 

Report of Independent Registered Public Accounting Firm

 

F-2

 

 

 

 Balance Sheet for the period April 21, 2011 (date of inception) through May  31, 2011 (audited)  

 

F-3

 

 

 

 

 

 Statement of Operations for the period April 21, 2011 (date of inception) through May  31, 2011 (audited)  

 

F-4

 

 

 

 

 

 Statement of Changes in Shareholders’ Deficit for the period April 21, 2011 (date of inception) through May 31, 2011 (audited)

 

F-5

 

 

 

 

 

 Statement of Cash Flows for the period April 21, 2011 (date of inception) through May  31, 2011 (audited)  

 

F-6

 

 

 

 

 

Notes to  Audited Financial Statements

 

F-7




F-1





 

Peter Messineo

Certified Public Accountant

1982 Otter Way Palm Harbor FL 34685

peter@pm-cpa.com

T   727.421.6268   F   727.674.0511



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors and Stockholders

 CCJ Acquisition Corp.

 Seminole, Florida


I have audited the accompanying balance sheet of CCJ Acquisition Corp. , a development stage company, as of May 31, 2011 and the related statement of operations, stockholders’ equity, and cash flows for the period from April 21, 2011 (inception) through May 31, 2011. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these consolidated financial statements based on my audit.


I conducted my audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor was I engaged to perform, an audit of its internal control over financial reporting. My audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, I express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.


In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of CCJ Acquisition Corp. as of May 31, 2011 and the results of operations and cash flows for the period from April 21, 2011 (inception) through May 31, 2011, in conformity with accounting principles generally accepted in the United States of America.


The accompanying financial statements have been prepared assuming the Company will continue as a going concern.  As discussed in Note 2 to the financial statements, the Company has no revenues from operation, has not emerged from the development stage, and is requiring traditional financing or equity funding to commence its operating plan.  These conditions raise substantial doubt about the Company’s ability to continue as a going concern.  Further information and management’s plans in regard to this uncertainty were also described in Note 2.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



Peter Messineo, CPA

Palm Harbor, Florida

June 29, 2011



F-2



CCJ ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)


BALANCE SHEET



 

 

 

 

 

  

 

May 31, 2011

 

  

 

 

 

ASSETS

 

 

 

  

 

 

 

Current assets

 

 

 

   Cash

 

$

3,000

 

  

 

 

 

 

  

 

 

 

 

Total assets

 

$

3,000

 

  

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

   Accrued expenses

 

$

500

 

  

 

 

 

 

  

 

 

 

 

 

 

 

 

 

   Total current liabilities

 

 

500

 

  

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

Preferred  stock: $0.001 par value; 750,000,000 shares authorized; no shares issued or outstanding

 

 

-

 

Common stock: $0.001 par value; 900,000,000 shares authorized; 3,000,000 shares issued and outstanding

 

 

3,000

 

Additional paid-in capital

 

 

-

 

Deficit accumulated during the development stage

 

 

(500

)

  

 

 

 

 

Total stockholders’ equity

 

 

2,500

 

  

 

 

 

 

Total liabilities and stockholders’ equity

 

$

3,000

 

  

 

 

 

 

 

See accompanying notes to the financial statements




F-3




CCJ ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

 

STATEMENT OF OPERATIONS


 

 

 

 

 

  

 

For the period from

April 21, 2011 (Inception) through

May 31, 2011

 

  

 

 

 

REVENUE

 

$

-

 

  

 

 

 

 

OPERATING EXPENSES

 

 

 

 

Professional fees

 

 

500

 

Organization expenses

 

 

-

 

General and administrative

 

 

-

 

  

 

 

 

 

Loss before income taxes

 

 

(500

)

 

 

 

 

 

Income tax provision

 

 

-

 

  

 

 

 

 

Net loss

 

$

(500

)

  

 

 

 

 

Net loss per common share – basic and diluted

 

$

(0.00

)

  

 

 

 

 

Weighted average number of common shares outstanding – basic and diluted

 

 

3,000,000

 

  

 

 

 

 

 

See accompanying notes to the financial statements.




F-4




CCJ ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)


STATEMENTS OF STOCKHOLDERS' EQUITY

For the Period from April 21, 2011 (Inception) through May 31, 2011


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

  

 

Shares

 

 

Amount

 

 

Additional

Paid in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders' Equity

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 21, 2011 (Inception)

 

 

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares issued to founders, April 21, 2011 at $.001 per share

 

 

3,000,000

 

 

 

3,000

 

 

 

-

 

 

 

-

 

 

 

3,000

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(500

)

 

 

(500

)

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, May 31, 2011

 

 

3,000,000

 

 

$

3,000

 

 

$

-

 

 

$

(500

)

 

$

2,500

 


See accompanying notes to the financial statements.




F-5




CCJ ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)


STATEMENT OF CASH FLOWS


 

 

 

 

 

 

 

For the period from

April 21, 2011 (Inception) through

May 31, 2011

 

  

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

    Net loss

 

$

(500

)

 

 

 

 

 

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

  

 

 

 

 

   Increase in accrued liabilities

 

 

500

 

  

 

 

 

 

Net cash used in operating activities

 

 

-

 

  

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

  

 

 

 

 

   Issuance of Common Stock

 

 

3,000

 

  

 

 

 

 

Net cash from financing activities

 

 

3,000

 

  

 

 

 

 

Change in cash during the period

 

 

3,000

 

Cash, beginning of the period

 

 

-

 

  

 

 

 

 

Cash, end of the period

 

$

3,000

 

  

 

 

 

 

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

 

 

 

 

   Interest paid

 

$

-

 

   Taxes paid

 

$

-

 

  

 

 

 

 


See accompanying notes to the financial statements




F-6




CCJ ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

MAY 31, 2011


NOTES TO THE FINANCIAL STATEMENTS


Note 1 – Nature of Operations


CCJ Acquisition Corp. (a development stage company) (“CCJ” or the “Company”) was incorporated in Florida on April 21, 2011, with an objective to acquire, or merge with, an operating business.   As of May 31, 2011, the Company had not yet commenced any operations.


Note 2 – Significant Accounting Policies


Development stage company


The Company is a development stage company as defined by section 810-10-20 of the FASB Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced.  All losses accumulated since inception have been considered as part of the Company’s exploration stage activities.


Going Concern.


The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  For the period ended May 31, 2011, the Company has had no operations.  As of May 31, 2011, the Company has not emerged from the development stage.  In view of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to acquire an operating company and to achieve a level of profitability.  The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements.  The Company may not be sucessful in acquiring an operating Company or raise sufficient capital or secure funds for its operating plan purposes. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.


Use of estimates


The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amount of revenues and expenses during the reporting period. Actual results could differ from these estimates.


Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.


Fiscal year end


The Company elected May 31 as its fiscal year ending date.





F-7



Cash equivalents


The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents.


Basic and diluted net loss per share


Basic loss per share is computed using the weighted average number of shares of common stock outstanding during each period. Diluted loss per share includes the dilutive effects of common stock equivalents on an “as if converted” basis. Basic and diluted loss per share are the same due to the absence of common stock equivalents.


Income taxes


Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse.


We have net operating loss carryforwards available to reduce future taxable income. Future tax benefits for these net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that we will not realize a future tax benefit, a valuation allowance is established.


Net loss per common share


Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification.  Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.  Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period.  There were no potentially dilutive shares outstanding as of May 31, 2011.


Recently issued accounting standards


Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company.  Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present or future financial statements.


Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.


Note 3 – Income Taxes


At May 31, 2011, the Company had a net operating loss carry–forward for Federal income tax purposes of $500 that may be offset against future taxable income through 2031  No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company’s net deferred tax assets of $170, calculated at an effective tax rate of 34%, was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by a valuation allowance of $170.




F-8



Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability.


Note 4 – Equity

The Company has been authorized to issue 900,000,000 shares of common stock, $.001 par value.  Each share of issued and outstanding common stock shall entitle the holder thereof to fully participate in all shareholder meetings, to cast one vote on each matter with respect to which shareholders have the right to vote, and to share ratably in all dividends and other distributions declared and paid with respect to common stock, as well as in the net assets of the corporation upon liquidation or dissolution.  On April 21, 2011, the Company issued 3,000,000 shares of common stock, at par of $.001, for $3,000.

The Company has been authorized to issue 750,000,000 shares of $.001 par value Preferred Stock.  The Board of Directors is expressly vested with the authority to divide any or all of the Preferred Stock into series and to fix and determine the relative rights and preferences of the shares of each series so established, within certain guidelines established in the Articles of Incorporation.  There have been no preferred shares issued.


Note 5 – Related Party Transaction


As described above, on April 21, 2010, the Company sold 3,000,000 shares of its $0.001 common stock to three officers and directors of the Company for $3,000 in cash.


The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities that become available. They may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.


The Company has been provided office space by a member of the Board of Directors at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statements.


The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the founder of the Company to use at no charge.


The above amount is not necessarily indicative of the amount that would have been incurred had a comparable transaction been entered into with independent parties.


Note 6 – Subsequent Events  

Subsequent events have been evaluated through the date of the filing.



F-9



Item 14. Changes in and Disagreements with Accountants and Accounting and Financial Disclosure



There are not and have not been any disagreements between the Registrant and its accountants on any matter of accounting principles, practices or financial statement disclosure.



Item 15. Financial Statements and Exhibits


Index of Exhibits



Exhibit

Number

Description

 

 

3.1

Certificate of Incorporation

3.2

By-Laws

 

 

 

 





SIGNATURES


Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.




Date:  July 20, 2011

CCJ ACQUISITION CORP.


By:

  /s/Jay D. Solomon

 

Name: Jay D. Solomon,

Title: President, Director




15



ARTICLES OF INCORPORATION


OF


CCJ ACQUISITION CORP.


The undersigned, as incorporator, forms a corporation within the meaning of the applicable provisions of the Florida Statutes, Chapter 607.



ARTICLE I


Corporate Name


The name of this corporation is CCJ ACQUISITION CORP. (the Corporation ).



ARTICLE II


Registered Office


The registered office for the Corporation shall be 8200 Seminole Boulevard, Seminole, Florida 33772.



ARTICLE III


General Nature of business


The Corporation may transact any lawful business for which corporations may be incorporated under Florida law.


ARTICLE IV


Capital Stock


Common Stock: The aggregate number of shares of stock authorized to be issued by this Corporation shall be 900,000,000 shares of common stock, each with a par value of $.001.  Each share of issued and outstanding common stock shall entitle the holder thereof to fully participate in all shareholder meetings, to cast one vote on each matter with respect to which shareholders have the right to vote, and to share ratably in all dividends and other distributions declared and paid with respect to the common stock, as well as in the net assets of the corporation upon liquidation or dissolution.


Preferred Stock:   The Corporation is authorized to issue 750,000,000 shares of $.001 par value Preferred Stock.  The Board of Directors is expressly vested with the authority to divide any or all of the Preferred Stock into series and to fix and determine the relative rights and preferences of the shares of each series so established, provided, however, that the rights and preferences of various series may vary only with respect to:


(a)

the rate of dividend;

(b)

whether the shares may be called and, if so,  the call price and the terms  and conditions of call;

(c) the amount payable upon the shares in the event of voluntary and involuntary



Page 1 of 3

liquidation;

(d) sinking fund provisions, if any, for the call or redemption of the shares;

(e)

the terms and conditions, if any, on which the shares may be converted;

(f)

voting rights including number of votes per share; and

(g)

whether the shares will be cumulative, noncumulative or partially cumulative as to dividends and the dates from which any cumulative dividends are to accumulate.


The Board of Directors shall exercise the foregoing authority by adopting a resolution setting forth the designation of each series and the number of shares therein, and fixing and determining the relative rights and preferences thereof.  The Board of Directors may make any change in the designation, terms, limitations and relative rights or preferences of any series in the same manner, so long as no shares of such series are outstanding at such time.


Within the limits and restrictions, if any, stated in any resolution of the Board of Directors originally fixing the number of shares constituting any series, the Board of Directors is authorized to increase or decrease (but not below the number of shares of such series then outstanding) the number of shares of any series subsequent to the issue of shares of such series.  In case the number of shares of any series shall be so decreased, the share constituting such decrease shall resume the status which they had prior to the adoption of the resolution originally fixing the number of shares of such series.



ARTICLE V


Registered Agent


The registered agent of the Corporation at such address is Clifford J. Hunt, Esquire, who maintains an office at 8200 Seminole Boulevard, Seminole, Florida 33772.


ARTICLE VI


Incorporator


The name and address of the corporation s incorporator is:


Name

Address


Clifford J. Hunt, Esquire

8200 Seminole Boulevard

Seminole, FL 33772



ARTICLE VII


By-Laws


The power to adopt, alter, amend or repeal by-laws of the Corporation shall be vested in the shareholders and separately in its Board of Directors, as prescribed by the by-laws of the Corporation.









Page 2 of 3

ARTICLE VIII


Indemnification


If in the judgment of a majority of the entire Board of Directors, (excluding from such majority any director under consideration for indemnification), the criteria set forth in § 607.0850(1) or (2), Florida Statutes, as then in effect, have been met, then the Corporation shall indemnify any director, officer, employee or agent thereof, whether current or former, together with his or her personal representatives, devisees or heirs, in the manner and to the extent contemplated by § 607.0850, as then in effect, or by any successor law thereto.


ARTICLE IX


Effective Date of Articles


These Articles shall be effective upon filing with the Secretary of State for Florida.


ARTICLE X


Control Share Acquisition Statute Inapplicable


Section 607.0902 of the Florida Statutes regarding control share acquisitions is not applicable to this Corporation and shall not have any effect upon the voting rights relating to issued and outstanding shares of capital stock of the Corporation.




IN WITNESS WHEREOF, the undersigned, as incorporator, has hereunto set the undersigned s hand and seal this  18 th day of April 2011, for the purpose of organizing this Corporation under the laws of the State of Florida.



/s/: Clifford J. Hunt

Clifford J. Hunt, Incorporator




ACKNOWLEDGMENT


Having been named to accept service of process for the above-stated Corporation, at the place designated in these articles of incorporation, I hereby accept to act in this capacity, and agree to comply with the provisions of Section 607.0501 of the Florida Statutes relative to keeping open said office.




/s/: Clifford J. Hunt

Clifford J. Hunt, Esquire




Page 3 of 3

BYLAWS

OF

CCJ ACQUISITION CORP.


ARTICLE I - OFFICES


SECTION 1.  PRINCIPAL PLACE OF BUSINESS


The initial location of the principal place of business of the corporation shall be 8200 Seminole Boulevard, Seminole, Florida 33772.


The principal place of business of the corporation shall also be known as the principal office of the corporation.


SECTION 2.  OTHER OFFICES


The corporation may also have offices at such other places as the board of directors may, from time to time designate or as the business of the corporation may require.


ARTICLE II - SHAREHOLDERS


SECTION 1.  PLACE OF MEETINGS


All meetings of the shareholders shall be held at the principal place of business of the corporation or at such other place within or outside the State of Florida as may be determined by the board of directors.  


SECTION 2.  ANNUAL MEETINGS


The annual meeting of the shareholders shall be held on the second Tuesday of the month of April of each year, at which time the shareholders shall elect a board of directors and transact any other proper business.  If this date falls on a legal holiday, then the meeting shall be held on the following business day.


SECTION 3.  SPECIAL MEETINGS


Special meetings of the shareholders may be called by the board of directors or by the shareholders.  In order for a special meeting to be called by the shareholders, 10 percent or more of all the votes entitled to be case on any issue proposed to be considered at the proposed special meeting shall sign, date and deliver to the secretary one or more written demands for the meeting describing the purpose or purposes for which it is to be held. The secretary shall issue the call for special meetings unless the president, the board of directors, or the shareholders designate another person to make the call.






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SECTION 4.  NOTICE OF MEETINGS


Notice of all shareholders' meetings, whether annual or special, shall be given to each shareholder of record entitled to vote at such meeting no fewer than 10 or more than 60 days before the meeting date.  The notice shall include the date, time and place of the meeting and in the case of a special meeting the purpose or purposes included in the notice of special meeting may be conducted at a special shareholders' meeting.


Notice of shareholders' meetings may be given orally or in writing, by or at the direction of the president, the secretary or the officer or persons calling the meeting.  Notice of meetings may be communicated in person; by telephone, telegraph, teletype, facsimile machine, or other form of electronic communication; or by mail.  If mailed, notice shall be deemed to be delivered when deposited in the United States mail, addressed to the shareholder at the shareholder's address as it appears on the stock transfer books of the corporation, with postage prepaid.


When a meeting is adjourned to a different date, time or place, it shall not be necessary to give any notice of the adjourned meeting if the new date, time or place is announced at the meeting at which the adjournment is taken, and any business may be transacted at the adjourned meeting that might have been transacted on the original date of the meeting.  If, however, after the adjournment, the board fixes a new record date for the adjourned meeting, notice of the adjourned meeting in accordance with the preceding paragraphs of this bylaw shall be given to each person who is a shareholder as of the new record date and is entitled to vote at such meeting.


SECTION 5.  WAIVER OF NOTICE


A shareholder may waive any notice required by the Business Corporation Act, the articles of incorporation or these bylaws before or after the date and time stated in the notice.  The waiver must be in writing, be signed by the shareholder entitled to the notice, and be delivered to the corporation for inclusion in the minutes or filing with the corporate records.  Neither the business to be transacted at nor the purpose of any annual or special meeting of the shareholders need be specified in any written waiver of notice.


SECTION 6.  ACTION WITHOUT MEETING


Any action which is required by law to be taken at an annual or special meeting of shareholders, or any action which may be taken at any annual or special meeting of shareholders, may be taken without a meeting, without prior notice, and without a vote if one or more written consents, setting forth the action so taken, shall be dated and signed by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.  Written consents shall not be effective to take corporate action unless, within 60 days of the date of the earliest written consent relating to the action, the signed written consents of the number of holders required to take the action are delivered to the corporation.





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Within 10 days after obtaining any such authorization by written consent, notice must be given to those shareholders who have not consented in writing or who are entitled to vote on the action.  The notice shall fairly summarize the material features of the authorized action.


SECTION 7.  QUORUM AND SHAREHOLDER ACTION


A majority of the shares entitled to vote, represented in person or proxy, shall constitute a quorum at a meeting of shareholders.  Unless otherwise provided under law, the articles of incorporation or these bylaws, if a quorum is present, action on a matter, other than the election of directors, shall be approved if the votes cast by the holders of the shares represented at the meeting and entitled to vote favoring the action exceed the votes cast opposing the action.  Directors shall be elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present.


After a quorum has been established at a shareholders' meeting, the subsequent withdrawal of shareholders, so as to reduce the number of shares entitled to vote at the meeting below the number required for a quorum, shall not affect the validity of any action taken at the meeting or any adjournment thereof.


SECTION 8.  VOTING OF SHARES


Each outstanding share shall be entitled to one vote on each matter submitted to a vote at a meeting of shareholders, except as may be provided under law or the articles of incorporation.  A shareholder may vote either in person or by proxy executed in writing by the shareholder or the shareholder's duly authorized attorney-in-fact.


At each election of directors, each shareholder entitled to vote at such election shall have the right to vote, in person or by proxy, the number of shares owned by the shareholder, for as many persons as there are directors to be elected at that time and for whose election the shareholder has a right to vote.


SECTION 9.  PROXIES


A shareholder, or the shareholder's attorney-in-fact, may appoint a proxy to vote or otherwise act for the shareholder.  An executed telegram or cablegram appearing to have been transmitted by such person, or a photographic, photostatic, or equivalent reproduction of an appointment form, shall be a sufficient appointment form.


An appointment of a proxy is effective when received by the secretary or other officer or agent authorized to tabulate votes.  An appointment is valid for up to 11 months unless a longer period is specified in the appointment form.


An appointment of a proxy is revocable by the shareholder unless the appointment form conspicuously states that it is revocable and the appointment is coupled with an interest as provided in Section 607.0722(5) of the Business Corporation Act.




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SECTION 10.  RECORD DATE FOR DETERMINING SHAREHOLDERS


The board of directors may fix in advance a date as the record date for the purpose of determining shareholders entitled to notice of a shareholders' meeting, to demand a special meeting, to vote, or to take any other action.  In no event may a record date fixed by the board of directors be a date preceding the date upon which the resolution fixing the record date is adopted.  A record date may not be specified to be more than 70 days before the meeting or action.


Unless otherwise specified by resolution of the board of directors, the following record dates shall be operative:


1.

The record date for determining shareholders entitled to demand a special meeting is the date the first shareholder delivers the shareholder's demand to the corporation.


2.

If no prior action is required by the board of directors pursuant to the Business Corporation Act, the record date for determining shareholders entitled to take action without a meeting is the date the first signed written consent relating to the proposed action is delivered to the corporation.


3.

If prior action is required by the board of directors pursuant to the Business Corporation Act, the record date for determining shareholders entitled to take action without a meeting is at the close of business on the day on which the board of directors adopts the resolution taking such prior action.


4.

The record date for determining shareholders entitled to notice of and to vote at a meeting of shareholders is at the close of business on the day before the first notice is delivered to the shareholders.


SECTION 11.  SHAREHOLDERS' LIST


After a record date is fixed or determined in accordance with these bylaws, the secretary shall prepare an alphabetical list of the names of all its shareholders who are entitled to notice of a shareholders' meeting.  The list shall show the addresses of, and the number and class and series, if any, of shares held by, each person.


The shareholders' list shall be available for inspection by any shareholder for a period of 10 days prior to the meeting, or such shorter time as exists between the record date and the meeting, and continuing through the meeting, at the corporation's principal place of business.


ARTICLE III - DIRECTORS


SECTION 1.  POWERS


Except as may be otherwise provided by law or the articles of incorporation, all corporate




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powers shall be exercised by or under the authority of, and the business and affairs of the corporation shall be managed under the direction of, the board of directors.


A director who is present at a meeting of the board of directors or a committee of the board of directors when corporate action is taken shall be deemed to have assented to the action taken unless:


1.

The director votes against or abstains from the action taken; or


2.

The director objects at the beginning of the meeting, or promptly upon the director's arrival, to holding the meeting or transacting specified business at the meeting.


3.

The board of directors shall have the authority to fix the compensation of directors.


SECTION 2.  QUALIFICATION AND NUMBER


Directors shall be individuals who are 18 years of age or older but need not be residents of Florida or shareholders of this corporation.


The authorized number of directors shall be 7 and the corporation shall have at least one director at all times.  This number may be increased or decreased from time to time by amendment to these bylaws, but no decrease shall have the effect of shortening the term of any incumbent director.


SECTION 3.  ELECTION AND TENURE OF OFFICE


The directors shall be elected at each annual meeting of the shareholders and each director shall hold office until the next annual meeting of shareholders and until the director's successor has been elected and qualified, or until the director's earlier resignation or removal from office.


SECTION 4.  VACANCIES


Unless otherwise provided in the articles of incorporation, any vacancy occurring in the board of directors, including any vacancy created by reason of an increase in the number of directors, may be filled by the affirmative vote of a majority of the remaining directors, though less than a quorum of the board of directors, or by the shareholders.


A director elected to fill a vacancy shall hold office only until the next shareholders' meeting at which directors are elected.


SECTION 5.  REMOVAL


Unless the articles of incorporation provide that a director may only be removed for




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cause, at a meeting of shareholders called expressly for that purpose, one or more directors may be removed, with or without cause, if the number of votes cast to remove the director exceeds the number of votes cast not to remove the director.


SECTION 6.  PLACE OF MEETINGS


Meetings of the board of directors shall be held at any place, within or without the State of Florida, which has been designated in the notice of the meeting or, if not stated in the notice or if there is no notice, at the principal place of business of the corporation or as may be designated from time to time by resolution of the board of directors.


The board of directors may permit any or all directors to participate in meetings by, or conduct the meeting through the use of, any means of communication by which all directors participating can simultaneously hear each other during the meeting.


SECTION 7.  ANNUAL AND REGULAR MEETINGS


An annual meeting of the board of directors shall be held without call or notice immediately after and at the same place as the annual meeting of the shareholders.


Other regular meetings of the board of directors shall be held at such times and places as may be fixed from time to time by the board of directors.  Call and notice of these regular meetings shall not be required.


SECTION 8.  SPECIAL MEETINGS AND NOTICE REQUIREMENTS


Special meetings of the board of directors may be called by the chairman of the board or by the president and shall be preceded by at least 2 days' notice of the date, time and place of the meeting.  Unless otherwise required by law, the articles of incorporation or these bylaws, the notice need not specify the purpose of the special meeting.


Notice of directors' meetings may be given orally or in writing, by or at the direction of the president, the secretary or be communicated in person; by telephone, telegraph, teletype, facsimile machine, or other form of electronic communication; or by mail.  If mailed, notice shall be deemed to be delivered when deposited in the United States mail, addressed to the director at the director's current address on file with the corporation, with postage prepaid.


If any meeting of directors is adjourned to another time or place, notice of any such adjourned meeting shall be given to the directors who were not present at the time of the adjournment and, unless the time and place of the adjourned meeting are announced at the time of adjournment, to the other directors.


SECTION 9.  QUORUM


A majority of the authorized number of directors shall constitute a quorum for all




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meetings of the board of directors.


SECTION 10.  VOTING


If a quorum is present when a vote is taken, the affirmative vote of a majority of directors present at the meeting shall be the act of the board of directors.


A director of the corporation who is present at a meeting of the board of directors when corporate action is taken shall be deemed to have assented to the action taken unless:


1.  The director objects at the beginning of the meeting, or promptly upon arriving, to holding the meeting or transacting specified business at the meeting; or


2.  The director votes against or abstains from the action taken.


SECTION 11.  WAIVER OF NOTICE


Notice of a meeting of the board of directors need not be given to any director who signs a waiver of notice either before or after the meeting.  Attendance of a director at a meeting shall constitute a waiver of notice of such meeting and a waiver of any and all objections to the place of the meeting, or the manner in which it has been called or convened, except when a director states, at the beginning of the meeting or promptly upon arrival at the meeting, any objection to the transaction of business because the meeting is not lawfully called or convened.


SECTION 12.  ACTION WITHOUT A MEETING


Any action required or permitted to be taken at a board of directors' meeting or committee meeting may be taken without a meeting if the action is taken by all members of the board of directors or of the committee.  The action must be evidenced by one or more written consents describing the action taken and signed by each director or committee member.


ARTICLE IV - OFFICERS


SECTION 1.  OFFICERS


The officers of the corporation shall consist of a president, a secretary, a treasurer, and such other officers as the board of directors may appoint.  A duly appointed officer may appoint one or more officers or assistant officers if authorized by the board of directors.


The same individual may simultaneously hold more than one office in the corporation.


Each officer shall have the authority and shall perform the duties set forth in these bylaws and, to the extent consistent with these bylaws, shall have such other duties and powers as may be determined by the board of directors or by direction of any officer authorized by the board of directors to prescribe the duties of other officers.




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SECTION 2.  ELECTION


All officers of the corporation shall be elected or appointed by, and serve at the pleasure of, the board of directors.


The election or appointment of an officer shall not itself create contract rights.


SECTION 3.  REMOVAL, RESIGNATION AND VACANCIES


An officer may resign at any time by delivering notice to the corporation.  A resignation is effective when the notice is delivered unless the notice specifies a later effective date.  If a resignation is made effective at a later date and the corporation accepts the future effective date, the board of directors may fill the pending vacancy before the effective date if the board provides that the successor does not take office until the effective date.


The board of directors may remove any officer at any time with or without cause.  Any officer or assistant officer, if appointed by another officer, may likewise be removed by such officer.


An officer's removal shall not effect the officer's contract rights, if any, with the corporation.  An officer's resignation shall not affect the corporation's contract rights, if any, with the officer.


Any vacancy occurring in any office may be filled by the board of directors.


SECTION 4.  PRESIDENT


The president shall be the chief executive officer and general manager of the corporation and shall, subject to the direction and control of the board of directors, have general supervision, direction, and control of the business and affairs of the corporation.  He shall preside at all meetings of the shareholders if present thereat and be an ex-officio member of all the standing committees, including the executive committee, if any, and shall have the general powers and duties of management usually vested in the office of president of a corporation.


In the absence or disability of the president, the vice-president, if any, shall perform all the duties of the president and, when so acting, shall have all the powers of, and be subject to all the restrictions imposed upon, the president.


SECTION 5.  SECRETARY


(a) The secretary shall be responsible for preparing, or causing to be prepared, minutes of all meetings of directors and shareholders and for authenticating records of the corporation.


(b) The secretary shall keep, or cause to be kept, at the principal place of business of the corporation, minutes of all meetings of the shareholders or the board of directors; a record of all




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actions taken by the shareholders or the board of directors without a meeting for the past three years; and a record of all actions taken by a committee of the board of directors in place of the board of directors on behalf of the corporation.


(c) Minutes of meetings shall state the date, time and place of the meeting; whether regular or special; how called or authorized; the notice thereof given or the waivers of notice received; the names of those present at directors' meetings; the number of shares present or represented at shareholders' meetings; and an account of the proceedings thereof.


(d) The secretary shall maintain, at the principal place of business of the corporation, a record of its shareholders, showing the names of the shareholders and their addresses, the number, class, and series, if any, held by each, the number and date of certificates issued for shares, and the number and date of cancellation of every certificate surrendered for cancellation.


(e) The secretary shall make sure that the following papers and reports are included in the secretary's records kept at the principal place of business of the corporation:


1.

The articles or restated articles of incorporation and all amendments to them currently in effect;


2.

The bylaws or restated bylaws and all amendments to them currently in effect;


3.

Resolutions adopted by the board of directors creating one or more classes or series of shares and fixing their relative rights, preferences, and limitations, if shares issued pursuant to those resolutions are outstanding;


4.

Minutes of all shareholders' meetings and records of all action taken by shareholders without a meeting for the past 3 years;


5.

Written communications to all shareholders generally or all shareholders of a class or series within the past 3 years, including the financial statements furnished for the past 3 years under Article VI, Section 2 of these bylaws and any reports furnished during the last 3 years under Article VI, Section 3 of these bylaws;


6.

A list of the names and business street addresses of current directors and officers; and


7.

The corporation's most recent annual report delivered to the Department of State under Article VI, Section 4 of these bylaws.


(f)  The secretary shall give, or cause to be given, notice of all meetings of shareholders and directors required to be given by law or by the provisions of these bylaws.


(g)  The secretary shall have charge of the seal of the corporation.




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(h)  In the absence or disability of the secretary, the assistant secretary, or, if there is none or more than one, the assistant secretary designated by the board of directors, shall have all the powers of, and be subject to all the restrictions imposed upon, the secretary.


SECTION 6.  TREASURER


The treasurer shall have custody of the funds and securities of the corporation and shall keep and maintain, or cause to be kept and maintained, at the principal business office of the corporation, adequate and correct books and records of accounts of the income, expenses, assets, liabilities, properties and business transactions of the corporation.


The treasurer shall prepare, or cause to be prepared, and shall furnish to shareholders, the annual financial statements and other reports required pursuant to Article VI, Sections 2 and 3 of these bylaws.


The treasurer shall deposit monies and other valuables in the name and to the credit of the corporation with such depositories as may be designated by the board of directors.  The treasurer shall disburse the funds of the corporation in payment of the just demands against the corporation as authorized by the board of directors and shall render to the president and directors, whenever requested, an account of all his or her transactions as treasurer and of the financial condition of the corporation.


In the absence or disability of the treasurer, the assistant treasurer, if any, shall perform all the duties of the treasurer and, when so acting, shall have all the powers of and be subject to all the restrictions imposed upon the treasurer.


SECTION 7.  COMPENSATION


The officers of this corporation shall receive such compensation for their services as may be fixed by resolution of the board of directors.



ARTICLE V - EXECUTIVE AND OTHER COMMITTEES


SECTION 1.  EXECUTIVE AND OTHER COMMITTEES OF THE BOARD


The board of directors may, by resolution adopted by a majority of the authorized number of directors, designate from its members an executive committee and one or more other committees each of which, to the extent provided in such resolution, the articles of incorporation of these bylaws, shall have and may exercise the authority of the board of directors, except that no such committee shall have the authority to:


1.

Approve or recommend to shareholders actions or proposals required by law to be approved by shareholders.




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2.

Fill vacancies on the board of directors or any committee thereof.


3.

Adopt, amend, or repeal the bylaws.


4.

Authorize or approve the reacquisition of shares unless pursuant to a general formula or method specified by the board of directors.


5.

Authorize or approve the issuance or sale or contract for the sale of shares, or determine the designation and relative rights, preferences, and limitations of a voting group except that the board of directors may authorize a committee (or a senior executive officer of the corporation) to do so within limits specifically prescribed by the board of directors.


Each such committee shall have two or more members who serve at the pleasure of the board of directors.  The board, by resolution adopted by a majority of the authorized number of directors, may designate one or more directors as alternate members of any such committee who may act in the place and stead of any absent member or members at any meeting of such committee.


The provision of law, the articles of incorporation and these bylaws which govern meetings, notice and waiver of notice, and quorum and voting requirements of the board of directors shall apply to such committees of the board and their members as well.


Neither the designation of any such committee, the delegation thereto of authority, nor action by such committee pursuant to such authority shall alone constitute compliance by any member of the board of directors not a member of the committee in question with the director's responsibility to act in good faith, in a manner the director reasonably believes to be in the best interests of the corporation, and with such care as an ordinarily prudent person in like position would use under similar circumstances.


ARTICLE VI - CORPORATE BOOKS, RECORDS AND REPORTS


SECTION 1. BOOKS, RECORDS AND REPORTS


The corporation shall keep correct and complete books and records of account; minutes of the proceedings of its shareholders, board of directors, and committees of directors; a record of its shareholders; and such other records and reports as are further described in Article IV, Sections 5 and 6 of these bylaws, at the principal place of business of the corporation.


Any books, records and minutes may be in written form or in another form capable of being converted into written form within a reasonable time.


SECTION 2.  ANNUAL FINANCIAL STATEMENTS FOR SHAREHOLDERS


Unless modified by resolution of the shareholders within 120 days of the close of each




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fiscal year, the corporation shall furnish its shareholders annual financial statements which may be consolidated or combined statements of the corporation and one or more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of cash flow for that year.  If financial statements are prepared on the basis of generally accepted accounting principles, the annual financial statements must also be prepared on that basis.


If the annual financial statements are reported upon by a public accountant, the accountant's report must accompany them.  If not, the statements must be accompanied by a statement of the president or the person responsible for the corporation's accounting records:


1.

Stating the person's reasonable belief whether the statements were prepared on the basis of generally accepted accounting principles and, if not, describing the basis of preparation, and


2.

Describing any respects in which the statements were not prepared on a basis of accounting consistent with the statements prepared for the preceding year.


The corporation shall mail the annual financial statements to each shareholder within 120 days after the close of each fiscal year or within such additional time thereafter as is reasonably necessary to enable the corporation to prepare its financial statements if, for reasons beyond the corporation's control, it is unable to prepare its financial statements within the prescribed period.  Thereafter, on written request from a shareholder who was not mailed the statements, the corporation shall mail the shareholder the latest financial statements.


Copies of the annual financial statements shall be kept at the principal place of business of the corporation for at least 5 years, and shall be subject to inspection during business hours by any shareholder or holder of voting trust certificates, in person or by agent.


SECTION 3.  OTHER REPORTS TO SHAREHOLDERS


If the corporation indemnifies or advances expenses to any director, officer, employee, or agent, other than by court order or action by the shareholders or by an insurance carrier pursuant to insurance maintained by the corporation, the corporation shall report the indemnification or advance in writing to the shareholders with or before the notice of the next shareholders' meeting, or prior to such meeting if the indemnification or advance occurs after the giving of such notice but prior to the time that such meeting is held.  The report shall include a statement specifying the persons paid, the amounts paid, and the nature and status at the time of such payment of the litigation or threatened litigation.


If the corporation issues or authorizes the issuance of shares for promises to render services in the future, the corporation shall report in writing to the shareholders the number of shares authorized or issued, and the consideration received by the corporation, with or before the notice of the next shareholders' meeting.





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SECTION 4.  ANNUAL REPORT TO DEPARTMENT OF STATE


The corporation shall prepare and deliver an annual report form to the Department of State each year within the time limits imposed, and containing the information required, by Section 607.1622 of the Business Corporation Act.


SECTION 5.  INSPECTION BY SHAREHOLDERS


(a)

A shareholder of the corporation is entitled to inspect and copy, during regular business hours at the corporation's principal office, the records of the corporation described in Article IV, Section 5(e) of these bylaws if the shareholder gives the secretary written notice of the shareholder's demand at least 5 business days before the date on which the shareholder wishes to inspect and copy.


(b)

A shareholder of this corporation is entitled to inspect and copy, during regular business hours at a reasonable location specified by the corporation, any of the following records of the corporation if the shareholder meets the requirements of subsection (c) below and gives the corporation written notice of the shareholder's demand at least 5 business days before the date on which the shareholder wishes to inspect and copy:


1.

Excerpts from minutes of any meeting of the board of directors, records of any action of a committee of the board of directors while acting in place of the board of directors on behalf of the corporation, minutes of any meeting of the shareholders, and records of action taken by the shareholders or board of directors without a meeting, to the extent not subject to inspection under subsection (a) above;


2.

Accounting records of the corporation;


3.

The record of shareholders; and


4.

Any other books and records of the corporation.


(c)

A shareholder may inspect and copy the records described in subsection (b) above only if:


1.

The shareholder's demand is made in good faith and for a purpose reasonably related to the shareholder's interest as a shareholder;


2.

The demand describes with reasonable particularity the shareholder's purpose and the records the shareholder desires to inspect; and


3.

The records requested are directly connected with the shareholder's purpose.


(d)

This section of the bylaws does not affect:




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1.

The right of a shareholder to inspect and copy records under Article II, Section 11 of these bylaws;


2.

The power of a court, independently of the Business Corporation Act, to compel the production of corporate records for examination.


SECTION 5.  INSPECTION BY DIRECTORS


Every director shall have the absolute right at any reasonable time to inspect and copy all books, records, and documents of every kind of the corporation and to inspect the physical properties of the corporation.  Such inspection by a director may be made in person or by agent or attorney.  The right of inspection includes the right to copy and make extracts.


ARTICLE VII - INDEMNIFICATION AND INSURANCE


SECTION 1.  INDEMNIFICATION UNDER BCA SECTION 607.0850


The corporation shall have the power to indemnify any director, officer, employee, or agent of the corporation as provided in Section 607.0850 of the Business Corporation Act.


SECTION 2.  ADDITIONAL INDEMNIFICATION


The corporation may make any other or further indemnification or advancement of expenses of any of its directors, officers, employees, or agents, under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in the person's official capacity and as to action in another capacity while holding such office.  However, such further indemnification or advancement of expenses shall not be made in those instances specified in Section 607.0850(7)(a-d) of the Business Corporation Act.


SECTION 3.  COURT ORDERED INDEMNIFICATION


Unless otherwise provided by the articles of incorporation, notwithstanding the failure of the corporation to provide indemnification, and despite any contrary determination of the board or of the shareholders in the specific case, a director, officer, employee, or agent of the corporation who is or was a party to a proceeding may apply for indemnification or advancement of expenses, or both, to the court conducting the proceeding, to the circuit court, or to another court of competent jurisdiction in accordance with Section 607.0850(9) of the Business Corporation Act.


SECTION 4.  INSURANCE


The corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the corporation against any liability asserted against the person and incurred by the person in any such capacity or arising our




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of the person's status as such, whether or not the corporation would have the power to indemnify the person against such liability under provisions of law.


ARTICLE VIII - SHARES


SECTION 1.  ISSUANCE OF SHARES


The board of directors may authorize shares to be issued for consideration consisting of any tangible or intangible property or benefit to the corporation, including cash, promissory notes, services performed, promises to perform services evidenced by a written contract, or other securities of the corporation.


Before the corporation issues shares, the board of directors shall determine that the consideration received or to be received for shares to be issued is adequate.  That determination by the board of directors is conclusive insofar as the adequacy of consideration for the issuance of shares relates to whether the shares are validly issued, fully paid, and nonassessable.


When the corporation receives the consideration for which the board of directors authorized the issuance of shares, the shares issued therefor are fully paid and nonassessable.  Consideration in the form of a promise to pay money or a promise to perform services is received by the corporation at the time of the making of the promise, unless the agreement specifically provides otherwise.


The corporation may place in escrow shares issued for a contract for future services or benefits or a promissory note, or make other arrangements to restrict the transfer of the shares, and may credit distributions in respect of the shares against their purchase price, until the services are performed, the note is paid, or the benefits received.  If the services are not performed, the shares escrowed or restricted and the distributions credited may be canceled in whole or part.


SECTION 2.  CERTIFICATES


After shares in the corporation have been fully paid, the holder of the shares shall be given a certificate representing the shares.  At a minimum, each share certificate shall state on its face the following information:


1.

The name of the corporation and that the corporation is organized under the laws of Florida;


2.

The name of the person to whom issued;


3.

The number and class of shares and the designation of the series, if any, the certificate represents.


Each certificate shall be signed, either manually or in facsimile, by the president or a vice




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president and by the secretary or an assistant secretary of the corporation and may bear the seal of the corporation.


ARTICLE IX - DIVIDENDS


SECTION 1.  PAYMENT OF DIVIDENDS


The board of directors may authorize, and the corporation may make, dividends on its shares in cash, property, or its own shares and other distributions to its shareholders, subject to any restrictions contained in the articles of incorporation, to the requirements of Sections 607.0623 and 607.06401 of the Business Corporation Act, and to all applicable provisions of law.



ARTICLE X - AMENDMENT OF ARTICLES AND BYLAWS


SECTION 1.  AMENDMENT OF ARTICLES OF INCORPORATION


The board of directors may propose one or more amendments to the articles of incorporation for submission to the shareholders.  For the amendment to be effective:


1.

The board of directors must recommend the amendment to the shareholders, unless the board of directors determines that because of conflict of interest or other special circumstances it should make no recommendation and communicates the basis for its determination to the shareholders with the amendment; and


2.

The shareholders entitled to vote on the amendment must approve the amendment as provided below.


The board of directors may condition its submission of the proposed amendment to the shareholders on any basis.  The shareholders shall approve amendments to the articles of incorporation by  the vote of a majority of the votes entitled to be cast on the amendment, except as may otherwise be provided by the articles of incorporation, Sections 607.1003 and 607.1004 of the Business Corporation Act and other applicable provisions of law, and these bylaws.


The corporation shall notify each shareholder, whether or not entitled to vote, of the proposed shareholders' meeting to amend the articles of incorporation in accordance with Article II, Section 4 of these bylaws.  The notice of meeting must state that the purpose, or one of the purposes, of the meeting is to consider the proposed amendment and contain or be accompanied by a copy or summary of the amendment.


Notwithstanding the above provisions of this section and unless otherwise provided in the articles of incorporation, if this corporation has 35 or fewer shareholders then, pursuant to Section 607.1002(6) of the Business Corporation Act, the shareholders may amend the articles of incorporation without an act of the directors at a meeting of the shareholders for which the notice




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of the changes to be made is given.


SECTION 2.  AMENDMENT OF BYLAWS


The board of directors may amend or repeal these bylaws unless:


1.

The articles of incorporation or the Business Corporation Act reserves the power to amend the bylaws generally or a particular bylaw provision exclusively to the shareholders; or


2.

The shareholders, in amending or repealing the bylaws generally or a particular bylaw provision, provide expressly that the board of directors may not amend or repeal the bylaws or that bylaw provision.


The shareholders may amend or repeal these bylaws even though the bylaws may also be amended or repealed by the board of directors.



CERTIFICATE


This is to certify that the foregoing is a true and correct copy of the Bylaws of the corporation named in the title thereto and that such Bylaws were duly adopted by the board of directors of the corporation on the date set forth below.


Dated: April 21, 2011

/s/: Jay D. Solomon

Jay D. Solomon,

Chairman of the Board of Directors





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