Actually, Number of shares of common stock outstanding as of May 31, 1998 is 11,412,234
sec.gov
It goes on to state...
Common stock, $.01 par value,authorized 10,000,000 shares; issued and
outstanding,11,412,234 and 7,843,234.
The excess shares are explained...
During the nine months ended May 31, 1998, the Company issued
3,569,000 common shares. This has resulted in the total issued
common shares exceeding the 10,000,000 common shares authorized
by 1,412,234 common shares. Management of the Company intends to
increase the number of authorized shares or to convert the common
shares issued in excess of 10,000,000 to preferred stock.
In the Statement of Operations... there is confusion with the dates and colums, ie, 11,412,234 shrs occurs under the May 31,1997 heading. |
