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Monday, January 18, 2010 12:42:44 AM
From the recent 10Q through 10/31/2009:
WE RECENTLY REGISTERED SHARES OF COMMON STOCK TO BE ISSUED TO EMPLOYEES PURSUANT TO OUR STOCK COMPENSATION THAT WILL SIGNIFICANTLY DILUTE THE EQUITY INTERESTS OF EXISTING SHAREHOLDERS IN OUR COMPANY
We filed a registration statement with the Securities and Exchange Commission that registered 65,000,000 shares of common stock to be issued as compensation to employees. We are authorized to issue 100,000,000 shares of common stock and as of December 15, 2009 we had 30,455,187 shares of common stock issued and outstanding. To preserve cash, we intend to issue up to 65,000,000 shares of common stock as compensation to our employees and consultants which will significantly dilute the equity interests of existing shareholders. Consequently, the price of our common stock will likely fall and you may lose all or part of your investment.
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