Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS EQUITY

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STOCKHOLDERS EQUITY
3 Months Ended
Jun. 30, 2013
STOCKHOLDERS EQUITY [Text Block]

NOTE 6 – STOCKHOLDERS’ EQUITY

The Company is authorized to issue 1,125,000,000 shares of its $0.001 par value common stock.

On May 31, 2013, the Company effected a 15 -for-1 forward stock split of its $0.001 par value common stock.

All shares and per share amounts have been retroactively restated to reflect the split discussed above.

Common stock

Prior to the acquisition of Alkaline Water Company, the Company had 109,500,000 shares of common stock issued and outstanding.

On May 31, 2013, the Company issued 43,000,000 shares in exchange for a 100% interest in Alkaline Water Corp. For accounting purposes, the acquisition of Alkaline Water Corp by The Alkaline Water Company Inc. has been recorded as a reverse acquisition of a company and recapitalization of Alkaline Water Corp. based on the factors demonstrating that Alkaline Water Corp. represents the accounting acquirer. The Company changed its business direction and is now a beverage company.

As part of the acquisition, the former management of the Company agreed to cancel 75,000,000 shares of common stock.

On May 31, 2013, the Company sold 1,312,500 units at $0.40 per share for total cash of $525,000. Each unit consisted of 1 share of common stock, 1 warrant which entitles the holder to purchase 1 share of common stock for a period of 2 years with an exercise price of $0.50 per share, and 1/2 warrant which entitles the holder to purchase 1/2 share of common stock for a period of 2 years with an exercise price of $0.60 per share.

On May 31, 2013, the Company converted principal amount of $225,000 and accrued interest of $4,870 for 574,675 units at $0.40 per share for total debt converted of $229,870. Each unit consisted of 1 share of common stock, 1 warrant which entitles the holder to purchase 1 share of common stock for a period of 2 years with an exercise price of $0.50 per share, and 1/2 warrant which entitles the holder to purchase 1/2 share of common stock for a period of 2 years with an exercise price of $0.60 per share.