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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (4972)	10/13/1999 5:05:00 PM
From: StockDung	Respond to of 10354

Item 10. Recent Sales of Unregistered Securities. --------------------------------------- From its inception in March 1996, Loraca has issued 7,000,000 shares of its Common Stock, $0.001 par value per share. Approximately 800,000 of such shares were issued in a private placement in February 1997 in reliance upon Rule 504 of Regulation D promulgated under the Securities Act of 1933, as amended (the "Securities Act"). The shares were issued for nominal cash consideration ($0.1 per share and $80,000 in aggregate) in order to fund the incorporation expense and initial operations of Loraca, including 50,000 shares issued to Loraca's sole incorporator, David Spencer. All investors had access to all relevant information regarding Loraca that was necessary to make an informed investment decision. So, we know David Spencer is more than "just a little bit involved"