REGDEX/A paper filing on 6/4/2008 indicates unregistered shares were sold within the previous 15 days. My crude understanding of this filing and exemption from registration leads me to believe the shares in the offering are restricted, but the filing does not indicate the size of the sale. I assume the next 10Q will provide details. Perhaps the sale was to raise some or all of the $250,000 outlined in the first quarter 10Q which is excerpted below.
Second Quarter
We will seek to complete the $250,000 in an initial private placement, which we
anticipate having commenced at some stage during the first quarter. If we are
unable to complete the proposed initial private placement by the end of the
second quarter, we will continue our efforts to complete the proposed initial
private placement in the third and, if necessary, in the fourth quarter.
In the meantime, we have indicated above, the way in which we will adapt and
adjust our proposed business plan if we are able to raise only 25%, 50% or 75%
of our proposed initial private placement. If we were unable to raise even 25%
of our proposed initial private placement, we will seek to progress our business
plan through the personal efforts and funding provided by the board of directors
and by working with consultants prepared to accept shares of our common stock as
compensation.
During this quarter, we plan to establish a basic website and start compiling a
database of existing paintball parks and related businesses and potential
locations for new paintball parks. We will begin to build our online directory
as we obtain information from existing paintball parks.
We shall accelerate the implementation of our business plan by increasing our
contacts with owners of paintball parks and assets that may be interested in
selling to these assets, real estate agents who may be able to introduce us to
land owners interested in developing their land as a paintball park, paintball
executives who may wish to become part of our team and potential investment
partners who may be interested in providing us with the necessary funds to
acquire our first paintball park together with the working capital required for
the acquired business.
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
