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TOPIC: SPAZ - Spatializer Audio Laboratories, Inc.

SPAZ - Spatializer Audio Laboratories, Inc. 12 years 1 month ago #1186

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[SPAZ - Spatializer Audio Laboratories, Inc.]
New group taking control of the SPAZ shell:

On April 25, 2007, Spatializer Audio Laboratories, Inc. (the “Company”) entered into a Common Stock Purchase Agreement (the “Stock Purchase Agreement”) with Jay A. Gottlieb, Greggory A. Schneider and Helaine Kaplan (collectively, the “Investors”), pursuant to which the Company sold and the Investors purchased an aggregate of number of 16,236,615 shares of common stock of the Company for an aggregate purchase price of $162,366.15 with a potential additional payment of $259,786 to be released from an escrow account to the Company if certain conditions are met by June 30, 2007. As of April 20, 2007, Mr. Gottlieb owned 4,866,500 shares of the Company’s common stock which accounted for approximately 9.98% of the Company’s issued and outstanding common stock as of such date. Except as described herein, there are no material relationships between the Company or its affiliates and any of the Investors.
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