rick85284
On September 1, 2006, a control block of Series A Preferred shares were issued to the Company's founder and President, Mr. Michael Mak. These shares were issued to Mr. Mak in response to the tremendous growth the Company has experienced during the past three years under Mr. Mak's oversight and control. Mr. Mak has not converted any of the Series A shares into common stock and further, has no present intention of converting the Series A shares. Mr. Mak is an affiliate of the Company and any conversion of the Series A shares by Mr. Mak, while an affiliate of the Company, would result in the issuance of 144 restricted shares.