ORGANIZATION

3 Months Ended

Mar. 31, 2013

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1. ORGANIZATION

Southern States Sign Company (“SOST”) is a corporation incorporated in the state of Nevada. SOST operates through its wholly owned subsidiary, Conte Rosso & Partners S.r.l. (“CR&P,” and together with SOST, the “Company”), which is a company incorporated in Italy. Operations are carried out through its subsidiary, CR&P, and mainly consist of investments in the hospitality industry.

On November 1, 2012, the Company entered into the Exchange Agreement with CR&P, pursuant to which the CR&P Shareholders transferred all of the issued and outstanding capital stock of CR&P to the Company in exchange for 21,250,000 newly issued shares of our common stock, resulting in CR&P becoming a wholly owned subsidiary of the Company. The transaction was accounted for as a reverse acquisition into a publicly traded shell corporation, and accordingly, no goodwill was recorded. As a result of the reverse acquisition, the historical financial statements of SOST for the periods prior to the date of the transaction are not presented.

As of March 31, 2013, the consolidated operating subsidiaries are the following (those entities which are indented represent subsidiaries of the entity under which they are indented):

Subsidiaries

% of voting

Name of Company

%
Ownership

capital of subsidiary
owned by its parent

Location

Principal
activity

Southern States Sign Company

A. Conte Rosso & Partners S.r.l.

100.00

Italy

Hospitality Business

1. Aral Immobiliare S.r.l.*

100.00

Italy

Hospitality Business

2. C.R.&P. Service S.c.a.r.l.

35.75

Italy

Group’s Exclusive financial services

3. Galzignano Terme Golf & Resort S.p.A.

100.00

Italy

Hospitality business

4. Masseria Santo Scalone Hotel & Resort S.r.l.

100.00

Italy

Hospitality business

5. Primesint S.r.l.

70.00

Italy

Investment Company

* On March 20, 2013, Aral Immobiliare, S.r.l., a wholly owned subsidiary of the Company, consummated its merger with Ripa Hotel & Resort, S.r.l., formerly a wholly owned subsidiary of CR&P. This merger had no impact on the consolidated financial statements.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

SOUTHERN STATES SIGN Co 10-Q