Lest we forget:
On April 23, 1998, the Registrant issued to two Canadian employees, in a Regulation S transaction, 75,321 shares of common stock in satisfaction of unpaid, services valued at $0.20 per share. In addition, the Corporation issued, in repayment of loans, including interest, to the corporation, 1,481,497 shares of common stock valued at $0.20 per share to one Canadian individual, one United Kingdom corporation and three Bahamian corporations,in Regulation S transactions. In addition to the issuance of common stock, as
part of the repayment, the four corporations received warrants to purchase an additional 1,446,281 shares of common stock at an exercise price of $0.40 a share, exercisable for a period of two years from issuance.
My notes:
I will disclose shortly the pertinent documents I have attained so as you may know the owners in my upcoming report to the SEC.
I am more interested at this juncture of the relationship of the aforesaid UK company and Bahamian Corp that should be brought to the attention of Revenue Canada forthwith.
The contents of this message are without prejudice |
