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TOPIC: ZAXS - Zaxis International, Inc.

ZAXS - Zaxis International, Inc. 13 years 2 months ago #951

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[ZAXS - Zaxis International, Inc.]
In their latest 10k just released, their total Outstanding shares went from 16,245,623 to 92,333,155 because of this:

On October 4, 2005, the Company agreed to convert all 840,000 issued and outstanding shares of Series B Convertible Preferred Shares into 16,800,000 restricted shares of common stock. On October 5, 2005, the Company agreed to convert $5,500 in debt owed to the President of the Company into 55,000,000 restricted shares of common stock and sold 4,000,000 restricted shares pursuant to a subscription agreement to a private investor at $0.0001 per share. The Company believes that the issuances of these restricted shares was exempt from registration pursuant to Section 4(2) of the Act as privately negotiated, isolated, non-recurring transactions not involving any public solicitation. Appropriate restrictive legends are affixed to the stock certificates issued in such transactions.

SEC Form 10-KSB
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