Management Relationships
None of the Officers, Directors, key personnel or principal stockholders are related by blood or marriage. The Company has not made loans and is not doing business with any of its officers, directors, key personnel or 10% stockholders, or any of their relatives (or any entity controlled directly or indirectly by any such persons) within the last two years or purposes to do so within the near future. None of the Company's Officers, Directors, key personnel or 10% stockholders has guaranteed or co-signed any of the Company's bank debt or other obligations.
John Schmitz, the Chairman/CEO/President received approximately $37,500 in remuneration between June and December 1998.
There are 880,000,000 Shares subject to issuance under presently outstanding stock agreements, stock options, warrants or rights.
DESCRIPTION OF SECURITIES
Common Stock:
The Company has a total of 1,750,000,000 Authorized Shares of its Common Stock, $.00001 par value of which ____ Shares are presently issued and outstanding. Upon completion of the sales of all 100 million shares offered hereunder, there will be a total of ____ Shares outstanding.
Holders of the Company's Common Stock are entitled to one(1) vote for each share owned.
Shares of Common Stock do not have cummilative[sic] voting rights: therefore holders of more than fifty(50%) percent of the Shares voting for the election of directors can elect all the directors and in such event, the holders of the remaining Shares will not be able to elect a single director. Upon completion of the sale of all 100 million Shares offered hereunder, the subscribes to the Company's Shares will not be in a position to elect any of the Company's directors or to control its affairs.
Holders of Shares of Common Stock are entitled to receive such dividends as the Board of Directors may from time to time declare legally out of the funds of the Company and are available for distribution to shareholders, subject to the rights of the holders of any Preferred Stock.
Dividends:
Holders of the Preferred Shares will not be entitled to receive an annual dividend.
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