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GENERAL ORGANIZATION AND BUSINESS
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9 Months Ended |
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Nov. 30, 2011
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| GENERAL ORGANIZATION AND BUSINESS |
NOTE 1. GENERAL ORGANIZATION AND BUSINESS
Hidden Ladder, Inc. is a development stage company, incorporated in
the State of Florida on, February 23, 2010, to design a safety
product for homeowners. The Company was never able to execute upon
its business plan and on June 21, 2011 changed its name to Elite
Nutritional Brands, Inc. On June 21, 2011 the Company
effected a 12 for one forward stock split of our issued and
outstanding common stock. All numbers shown herein for
shares of our common stock reflect the adjusted numbers after
giving effect to the 12 for one stock split. Effective
July 27, 2011, David Johnson sold 103,000,000 shares of the
Company’s common stock to Don Ptalis, the Company’s new
CEO and Director for a purchase price of $5,000, which source was
his own funds. Taking into account the June 21, 2011
12:1 forward split of the Company’s common stock, the
percentage of voting securities of the Company now beneficially
owned directly or indirectly by Mr. Ptalis is
84.12%.
On July 29, 2011, David Johnson resigned as the President, CEO and
Sole Director of the Company, and Daniel McKelvy
resigned as the Assistant Secretary of the Company to pursue other
business interests. Effective July 29, 2011, Don Ptalis
was appointed as the Company’s new CEO and Director.
Through November 30, 2011 the Company was in the development stage
and has not carried on any significant operations and has generated
minimal revenues. The Company has incurred losses since inception
aggregating $33,883. The accompanying financial statements have
been prepared assuming that the Company will continue as a going
concern. These matters, among others, raise substantial doubt about
the ability of the Company to continue as a going concern. These
financial statements do not include any adjustments to the amounts
and classification of assets and liabilities that may be necessary
should the Company be unable to continue as a going
concern.
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