SIPP International Industries Inc (SIPN)

[silvermintz]

The Authorized Shares should be 250M according to the filings. Also, I would assume the 130M shares David Lazar issued/sold to "Chan Ku EE" is meant to be a control block, which is typical for Lazar plays. This would be a controlling interest with an A/S of 250M, however it would not be with an A/S of 500M.

The relevant link and my breakdown are below and I have referenced the pdf page numbers also: https://backend.otcmarkets.com/otcapi/company/financial-report/56039/content

January 1991 - Original Articles of Incorporation when company was called "Industries International, Incorporated" (pages 3-22) - Authorized Shares 20M (page 9)

April 2003 - Amended and Restated Articles of Incorporation when company was called "Industries International, Incorporated" (pages 23-27) - Authorized Shares 500M (page 23)

June 2003 - 1 for 4 Split with corresponding reduction in authorized shares when company was called "Industries International, Incorporated" (pages 28-30) - Authorized Shares 125M (page 28)

April 2007 - Amended and Restated Articles of Incorporation under current name "SIPP International Industries, Inc." (pages 31-32) - Authorized Shares 250M (page 31)