NAME CHANGE AND STOCK SPLIT; CHANGE IN CONTROL AND NEW OFFICER AND DIRECTOR |
6 Months Ended |
|---|---|
Aug. 31, 2011 | |
| NAME CHANGE AND STOCK SPLIT; CHANGE IN CONTROL AND NEW OFFICER AND DIRECTOR |
NOTE 3. NAME CHANGE AND STOCK SPLIT; CHANGE IN CONTROL
AND NEW OFFICER AND DIRECTOR
On
June 3, 2011 the Board of Directors and majority shareholder of
Hidden Ladder, Inc. approved Articles of Amendment to our Articles
of Incorporation which (a) effected a 12 for one forward stock
split of our issued and outstanding common stock, and (b) changed
the name of the company to “Elite Nutritional Brands,
Inc.”
In
conjunction therewith, we filed Articles of Amendment to our
Articles of Incorporation with the Secretary of State of Florida
which was effective at the close of business on June 21, 2011.
The forward stock split was distributed to all shareholders
of record on June 20, 2011. No cash will be paid or
distributed as a result of the forward stock split and no
fractional shares was issued. All fractional shares which
would otherwise be required to be issued as a result of the stock
split were rounded up to the nearest whole share. There was
no change in the par value of our common stock.
Our
common stock is quoted on the OTC Bulletin Board post
split under the symbol
“ELIT”. Our new CUSIP number is 28659B 100.
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. Mr. Ptalis is the
founder and currently a consultant to Plaza Promotions Inc., a
company he founded in 2004. Plaza Promotions is a promotional
company that provides premiums, POP printing, direct mail, and
event marketing to companies
in need of these services. Plaza Promotions clientele to this
day include many fortune 500 companies. From 1987-1993, Mr. Ptalis
was the president and chief financial officer of Desk, Inc., a
steelcase dealership with over $31,000,000 in sales, where he was
responsible for the daily oversight of the company's operations.
Mr. Ptalis received a Bachelor in Mechanical Engineering from the
City College of New York in 1964.
|