VHS.A
Here's where they started, jr cap pool, having trouble copying the latest financials, the 10 months to end Feb 1999.
1. INCORPORATION OF BUSINESS
The Corporation was incorporated as 753541 Alberta Ltd. under the Business Corporation Act (Alberta) on September 5, 1997 and is classified as a Junior Capital Pool corporation as defined in the Alberta Securities Commission Rule 46-501 entitled "Junior Capital Pool Offerings", as amended.
The Corporation is involved with securing equity financing with which it intends to identify and evaluate industrial, manufacturing or processing, entertainment or retail interests, participations or other related assets or businesses (or a combination thereof) in Canada with a view to acquisition or participation. On December 12, 1997, the Corporation changed its name to Video Headquarters Inc.
These financial statements do not include a statement of income and retained earnings for the period from incorporation on September 5, 1997 to May 31, 1998 because the Corporation did not earn any revenue or incur any expenses during that period.
2. SHARE CAPITAL
Number of Shares Amount
$
(a) Authorized:
Unlimited number of preferred shares
Unlimited number of common shares
(b) Issued:
Issue of common shares 4,000,000 300,000
Less share issue costs - (50,807)
4,000,000 249,193
(c) As at May 31, 1998, the Corporation has options outstanding to directors and officers of the Corporation and to the Agent to the Junior Capital Pool Offering to acquire a combined total of 580,000 common shares at an exercise price of $0.10 per share with expiration dates between September 18, 1999 and March 18, 2003.
(d) Pursuant to an escrow agreement, 2,000,000 common shares are held in escrow and may only be released in accordance with provisions of a policy adopted by the Alberta Securities Commission.
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