AI
Tuesday, October 21, 2008 2:13:52 PM
I believe these were authorized shares:
Last quarter offering.
(1) Regulation D offering commenced on 5/14/08 with the latest shares sold on 6/23/08 at an average price per share of $.07. A total of nine shareholders purchased in this offering – seven accredited and two non-accredited in the states of Florida, Illinois, California and New Jersey. All certificates contain a legend stating that the shares have not been registered under the Securities Act and that such shares cannot be sold or transferred for a period of 12 months under Rule 144 of the Securities Act.
I believe the unauthorized issuance of shares would be illegal.
Last quarter offering.
(1) Regulation D offering commenced on 5/14/08 with the latest shares sold on 6/23/08 at an average price per share of $.07. A total of nine shareholders purchased in this offering – seven accredited and two non-accredited in the states of Florida, Illinois, California and New Jersey. All certificates contain a legend stating that the shares have not been registered under the Securities Act and that such shares cannot be sold or transferred for a period of 12 months under Rule 144 of the Securities Act.
I believe the unauthorized issuance of shares would be illegal.
"If the facts don't fit the theory, change the facts."
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