Sunday, October 19, 2014 11:23:25 AM
"The $50,000 referenced in section 16 of the Regulation D filing on 10/16/14 is normal operating procedure for our Law Firm when they file these forms. Including that designation is intended to cover any potential business plan changes or unexpected contingencies from a legal perspective. You can see in the previous filing contained the same designation.
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All right - but Why?
"Business Plan changes and / or unexpected contingencies" - I am sure these possibilities are covered off in the normal course of Business and the "use of proceeds" of the PP would allow for such usage.
The section in which the $50 K is mentioned is specific, as set out below, as to it s use. It does not reference Business Plan changes nor unexpected contingencies.
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"Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above.
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