If you go further back in the 10ks when there was originally about 40 million shares outstanding. There were 70% owned by the Rudana Investment Group AG and sole decision maker was Hany Salem. The question is that company filed bankruptcy. So who bought the shares in the bankruptcy proceeding of Rudana Investment Group AG? I bet Falak Holdings did. This shows that the remaining shares most likely were the original float of 12 million shares pre 2010.
Equity Incentive Plan
The Company does not currently have an equity compensation plan. The Company expects to adopt an equity incentive plan for its officers, directors and key employees during 2009 and make grants under such plan in accordance with comparable industry standards.
ITEM 12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
Security Ownership of Certain Beneficial Owners and Management
The following table sets forth certain information regarding the beneficial ownership of Common Stock as of April 8, 2010 by (i) each director of the Company; (ii) each of the Company's officers named in the Summary Compensation Table and other key employees of our Company; (iii) each person who is known by the Company to be the beneficial owner of more than five percent of the Company's outstanding Common Stock; and (iv) all directors and named executive officers as a group. Except as otherwise indicated below, each person named has sole voting and investment power with respect to the shares indicated. The percentage of ownership set forth below reflects each holder's ownership interest in 40,114,900 issued and outstanding shares of the Company's common stock.
The Company intends to adopt an equity incentive plan for its officers, directors and key employees during the fiscal year ended December 31, 2010.
Amount and Nature of Beneficial Ownership
Name and Address of Beneficial Owner
Shares
Options/
Warrants
Total
Percentage of
Shares
Outstanding
Five Percent Shareholders
Rudana Investment Group AG (1)
27,7 16,208
0
27,7 16,208
69.1%
Executive Officers and Directors
Olivier de Vergnies
The mailing address for each of the listed individual is c/o Prime Sun Power Inc., 100 Wall Street, 21st Floor, New York, NY 10005.
(1) Mr. Hany Salem is the individual who exercises voting and dispositive powers for shares beneficially owned by Rudana Investment Group AG.
The Company is not aware of any pledges of any shares, options or warrants by any of the individuals or entities listed above.
Changes in Control
As of the date of filing of this Report, the Company is unaware of any arrangement which may result in a change in control.
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