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Alias Born | 08/04/2011 |
Saturday, October 15, 2016 2:45:09 PM
Interesting 13D by a penny stock biotech executive.
Effective September 23, 2016, the Issuer, Mr. Michael Jay Solomon, the Issuer’s Chairman and former sole officer, and the Filing Person entered into a Stock Purchase Agreement pursuant to which the Filing Person purchased 1,336,676 shares of the Issuer’s common stock from Mr. Solomon and a trust affiliated with Mr. Solomon for a total purchase price of $6,000. The Filing Person acquired the shares with $3,000 of his own funds and $3,000 provided by Mr. Michael Harris, a non-affiliate of the Issuer who is a partner at a law firm representing the Issuer. In connection with the transaction, Mr. Solomon resigned as an executive officer and the Filing Person was appointed Chief Executive Officer and Chief Financial Officer.
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