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Non-Tech : ECGM - E-COMMERCE GROUP INC Portrait of a pump and dump
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To: StockDung who wrote (2)6/23/2000 6:58:00 PM
From: StockDung  Read Replies (1) of 32
 
Initially, founders shares were issued to Mr. Kenneth Coleman, the incorporator. Mr. Coleman was issued 2,000,000 shares of common stock. Mr. Coleman sold or gifted his shares to twelve friends and business acquaintances in transactions exempt from registration pursuant to section 4 of the Securities Act of 1933, as amended (the "Securities Act"). One of those individuals, Lidya Balfe, who was then the corporate Secretary and a director, sold or gifted her shares to a total of 17 individuals in transactions that were also exempt from registration pursuant to section 4. All such transactions took place prior to or during April, 1993.
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