Panex Resources Inc. (DBGF)

[DaReal]

A/S increased to 2B
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=MFp%252bS4OG6OR7cGmnKv%252fizQ%253d%253d&CorpName=PANEX+RESOURCES+INC.

as already outlined in the latest 10Q:

7. Stockholders’ Equity (Continued)


Through May 31, 2014, $861,900 was received in advance for subscriptions for 861,900,000 shares of common stock paid at $0.001 per share. In addition, 50,975,000 shares of common stock at $0.001 per share were issued in consideration of settlement of liabilities of $50,975 during the quarter ended February 28, 2014. Of these 861,900,000 shares, 40,300,000 have been issued during the quarter ended May 31, 2014 and the rest (821,600,000) have not been issued as at May 31, 2014. As of May 31, 2014, the Company did not have sufficient authorized common stock available for issuance to fulfill the subscriptions. Therefore, the transaction has been classified outside of equity, as a current liability. In June 2014, holders of a majority of shares of common stock approved a resolution to increase the number of authorized shares from 500,000,000 to 2,000,000,000. This resolution will be effective 21 days after appropriate disclosure to the shareholders. At that time the Company will be able to issue the common stock underlying the subscriptions and will be able to reclassify the amounts from current liabilities to equity.