Pacific Green Technologies, Inc (PGTK)

[kmp9643]

On March 17, 2006, the Company authorized to be issued 340,877,600 restricted common shares of the company at $0.0025 for an aggregate value of $ 852,194, bringing the total outstanding shares of common stock to 497,604,165. These shares are to be held until March 30, 2006 for distribution to the creditors. Of the shares authorized to be issued, 64,000,000 were for cash of $160,000 and 276,877,600 common shares for the reduction of debt of $ 692,219. The cash is being used to reduce the debt not extinguished by the issuances of stock, leaving the Company with liabilities of less than $ 25,000