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Replies to post #1678 on Interups Inc (ITUP)
Effective upon the filing of this Report on Form 8-K, the Registrant is adding four new directors and officers, who are listed below. In conjunction with their accepting their positions as officers and/or directors, Mr. Laxmi Prasad, who was until recently the owner of 4,000,000 of the Registrant’s 6,900,000 issued and outstanding common shares, has transferred 500,000 of his shares to the officers and directors named below, and has transferred 2,860,000 of his shares to others. As a result, Mr. Prasad, including members of his immediate family, now owns of record 640,000 shares, which represents 9.28% of the Registrant’s 6,900,000 shares which are now issued and outstanding, which includes the 160,000 shares owned by his daughter, Likhitha Palaypu, who remains a director of the Registrant, and who lives with Mr. Prasad. All of Mr. Prasad’s shares were reissued either to non-US persons or US Persons who are accredited investors, and all of the transferees have a preexisting relationship with Mr. Prasad. As such, Mr. Prasad’s transfers of these shares was exempt from registration under the Securities Act of 1933 by reason of Regulation S, as only to non-US persons, or to Rule 4(2), as a private transaction.
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