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Re: janice shell post# 55852

Tuesday, 06/16/2009 9:23:11 PM

Tuesday, June 16, 2009 9:23:11 PM

Post# of 56764
C. PAIM's Unregistered Offerings and Sales of Stock

22. From September 2006 to March 2008, PAIM sold approximately 1.9 billion shares of purportedly unrestricted, or so-called "free trading," PAIM common stock to a New York entity and its affiliates (the "New York Entity"). PAIM never filed any registration statement with respect to the offer and sale of such shares.