NOTE H - MATERIAL EVENTS AND SUBSEQUENT EVENTS	3 Months Ended
Sep. 30, 2011
Notes to Financial Statements
NOTE H - MATERIAL EVENTS AND SUBSEQUENT EVENTS	NOTE H—MATERIAL EVENTS AND SUBSEQUENT EVENTS During the quarter ended September 30, 2011, the Company effectuated a 1:30 reverse stock split of its common stock. These financial statements are retroactively restated herein as though the split occurred at the beginning of the periods presented. The Company entered into a Share Purchase Agreement, dated as of July 27, 2011 (the “Share Purchase Agreement”), with Mr. Duane Bennett and the Northeast Nominee Trust, together being the majority shareholders of the Company (the “Shareholders”), and Supera Solutions Corp., a Nevada corporation (the “Purchaser”), pursuant to which the Shareholders agreed to sell, and the Purchasers agreed to buy, 15,600,000 pre-split common shares of the Company, representing 61.06% of the issued and outstanding capital stock of the Company. The Closing of the above mentioned transaction occurred subsequent to quarter end. The Company engaged in a recapitalization pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, on July 12, 2011. It exchanged $90,000 in a new convertible promissory note bearing interest at 5% for its outstanding $90,000 promissory note, dated September 17, 2010, with the new note providing substantially more protection to the holder against dilution in the event of a reverse stock split. Effective October 4, 2011, the Company entered into a License Agreement with Supera Group, LLC (“Supera”) pursuant to which Supera granted to the Company an exclusive license to use Supera’s technology, including patents for the manufacture and sale of readers/writers and high-capacity data storage in a card format for use in healthcare, patient management, medical, dental and pharmaceutical records and any other health application. In connection with entering into the License Agreement, the Company issued 30,200,000 post-split shares to Supera and agreed to pay 4% of gross sales from licensed products. The term of the license grant is for until the last to expire of the Licensed Patents. An additional 400,000 post-split common shares were issued during the quarter ended September 30, 2011 in connection with the reverse merger and conversion of debt into equity. Effective October 20, 2011, the Company issued an aggregate of 8,050,000 post-split common shares of its Common Stock to four persons who are not affiliates of the Company. The shares were issued pursuant to the conversion of the Company’s convertible promissory note rendering a zero balance currently.

NOTE H - MATERIAL EVENTS AND SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2011

NOTE H - MATERIAL EVENTS AND SUBSEQUENT EVENTS

NOTE H—MATERIAL EVENTS AND SUBSEQUENT EVENTS

During the quarter ended September 30, 2011, the Company effectuated a 1:30 reverse stock split of its common stock. These financial statements are retroactively restated herein as though the split occurred at the beginning of the periods presented.

The Company entered into a Share Purchase Agreement, dated as of July 27, 2011 (the “Share Purchase Agreement”), with Mr. Duane Bennett and the Northeast Nominee Trust, together being the majority shareholders of the Company (the “Shareholders”), and Supera Solutions Corp., a Nevada corporation (the “Purchaser”), pursuant to which the Shareholders agreed to sell, and the Purchasers agreed to buy, 15,600,000 pre-split common shares of the Company, representing 61.06% of the issued and outstanding capital stock of the Company.

The Closing of the above mentioned transaction occurred subsequent to quarter end.

The Company engaged in a recapitalization pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, on July 12, 2011. It exchanged $90,000 in a new convertible promissory note bearing interest at 5% for its outstanding $90,000 promissory note, dated September 17, 2010, with the new note providing substantially more protection to the holder against dilution in the event of a reverse stock split.

Effective October 4, 2011, the Company entered into a License Agreement with Supera Group, LLC (“Supera”) pursuant to which Supera granted to the Company an exclusive license to use Supera’s technology, including patents for the manufacture and sale of readers/writers and high-capacity data storage in a card format for use in healthcare, patient management, medical, dental and pharmaceutical records and any other health application. In connection with entering into the License Agreement, the Company issued 30,200,000 post-split shares to Supera and agreed to pay 4% of gross sales from licensed products. The term of the license grant is for until the last to expire of the Licensed Patents. An additional 400,000 post-split common shares were issued during the quarter ended September 30, 2011 in connection with the reverse merger and conversion of debt into equity.

Effective October 20, 2011, the Company issued an aggregate of 8,050,000 post-split common shares of its Common Stock to four persons who are not affiliates of the Company. The shares were issued pursuant to the conversion of the Company’s convertible promissory note rendering a zero balance currently.

BLUESKY SYSTEMS CORP 10-Q