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Tuesday, April 21, 2009 10:30:41 AM
On March 31, 2009, the Company issued 49,000,000 shares of its common stock to five persons for services rendered. These shares contained a restricted securities legend. The sale of the shares was a transaction exempt from registration based upon the exemption found in Section 4(2) of the Securities Act for transactions by an issuer not involving any public offering.
On April 3, 2009, the Company issued 11,100,000 shares of its common stock at the fixed conversion price to eliminate $111,000 in outstanding principal owed to holders of Convertible Promissory Notes. Following conversion, the Company has $339,000 of Convertible Promissory Notes outstanding due May 31, 2009.
Shares decreased by 1 for 1,000 Reverse Split, effective for trading purposes on March 26, 2009.
Shares decreased by 1 for 200 Reverse Split, effective for trading purposes on December 23, 2005.
Shares increased by 40 for 1 Forward Split, effective for trading purposes on June 6, 2006.
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