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Microcap & Penny Stocks : Amplidyne, AMPD
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To: The Phoenix who wrote (103)9/10/1999 4:32:00 PM
From: pavlov 1   of 538
 
On June 30, 1999, the Company issued 32,312 shares of common stock to Devendar
S. Bains (15,398), Tarlochan Bains (12,815) and Nirmal Bains (4,099). The shares
were issued in exchange of accrued salaries owed to such persons at June 30,
1999 ($27,424, $22,872, and $7,300, respectively) and were converted at a price
of $1.781, the market price at such date. The sales were made in reliance on
Section 4(2) of the Act. No underwriting discounts or commissions were paid.
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