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Technology Stocks : BIFS ... Patented Environmental Cleanup and Low Float Co.
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To: scion who wrote (359)5/29/2001 6:35:23 PM
From: scion  Read Replies (1) of 381
 
BIFS TECHNOLOGIES CORPORATION
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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MARCH 31, 2001
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NOTE D - PROFESSIONAL FEES

In February 2001, the Company issued 1,000,000 shares of restricted common stock
for consulting services. The consulting agreement is for a three year period.
The stock issued for these services, which was valued at $233,750, was recorded
at the stock's average simple traded value over a defined period less a 15%
discount because of its restricted nature. Prepaid professional services was
recorded in conjunction with this transaction and will be amortized over the
life of the consulting agreement. For the three months ended March 31, 2001,
amortization of this consulting agreement amounted to $8,325.

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