Here is the claim in the last 10Q.
Effective December 5, 2007, the Company changed its name to “Purio Inc.” and entered into a share exchange agreement with Purio Environmental Water Source, Inc. (“Purio Environmental”), a private Nevada corporation, and the shareholders of Purio. Pursuant to the share exchange agreement, the company issued 27,734,603 shares of its common stock in return for all outstanding shares of Purio Environmental.
[snip]
On February 28, 2006, the Company issued 27,500,000 shares of common stock to its founders for cash of $5,500 ($0.0002 per share).
On February 28, 2006, the Company issued 27,500,000 shares of common stock to its founders for cash of $5,500 ($0.0002 per share).
On October 29, 2007 a 1: 5 forward stock split was effected of the company to become its subsidiary, Purio Environmental Water Source, Inc.
On December 7, 2007, the Company entered into a share exchange agreement with Purio Environmental Water Source, Inc. (“Purio Environmental”), a private Nevada corporation, and the shareholders of Purio. Pursuant to the terms of the share exchange agreement, the Company agreed to acquire all of the issued and outstanding shares of Purio Environmental’s common stock in exchange for 27,500,000 shares of the Company.
[snip]
On February 11, 2008, the share exchange agreement was amended.
On February 13, 008, pursuant to the terms of the amendment, the Company acquired all of the issued and outstanding shares of Purio Environmental ’s common stock in exchange for the Company’s issuance of 27,734,603 shares to the shareholders of Purio. The transaction was accounted for as a purchase, with Purio Inc. being the accounting acquirer for accounting purposes.
On February 13, 2008 27,500,000 shares of founders stock was surrendered to the treasury of the Company and the shares retired.
At September 30, 2008 the Company is authorized to issue 375,000,000 shares, of which there are 55,234,603 shares issued and outstanding.
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