Funny; how do insiders file 2,000,000 shares for resale when VGAMD only has 522,000 shares outstanding?
Quit posting "SMAK"!
Who's smoking SMAK?
sec.gov
Item 1. Changes in Control of Registrant.
Pursuant to a Stock Exchange Agreement and Plan of Reorganization closed on June
16, 1998, the sole stockholder of Virtual Gaming Enterprises, Inc. ("Virtual")
acquired twelve million (12,000,000) shares of the Registrant's authorized and
unissued common stock in a merger of Virtual into the Registrant. The merger
followed an exchange of stock between Virtual and the Registrant which resulted
in each corporation owning the majority of the other corporation's issued and
outstanding common stock between the closing date and the date of the merger,
which was completed on June 24, 1998 by filing of Articles of Merger with the
Nevada Secretary of State. Both corporations are and were incorporated in
Nevada. The Registrant has been renamed Virtual Gaming Enterprises, Inc.
The exchange of stock and the merger of Virtual into the Registrant has resulted
in (i) the issue to Virtual's sole stockholder of shares representing
approximately fifty-one percent (51%) of the Registrant's issued and outstanding
common stock at the completion of the transaction, (ii) the resignation, in
connection with the exchange, of the Registrant's incumbent directors and
officers and (iii) the election of Virtual's management, as the Registrant's
directors and officers. Except as described above with respect to the merger,
Virtual's sole stockholder does not own, directly or indirectly, any other
common stock of the Registrant.
As a result of the merger, the Registrant now has a total of 23,863,461 shares
of common stock issued and outstanding, 11,863,461 constituting previously
issued and outstanding shares and 12,000,000 constituting shares converted from
Virtual's previously issued and outstanding shares. |
