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SoftQuad Software, Ltd. (OTCBB:SXML), an internationally recognized internet software developer, had its start as a public company via a reverse merger into The American Sports Machine, Inc. Initial trading of AMRP was at $.03125 per share and soared to a high of $50 per share or 159,900% six weeks later.

 

Date

High Low Close Volume
01/21/00 0.21875 0.03125 0.15625 135,000
01/28/00 0.50000 0.12500 0.50000 165,000
02/04/00 0.50000 0.50000 0.50000 0
02/11/00 0.50000 0.50000 0.50000 0
02/18/00 4.18750 0.50000 4.18750 75,200
02/25/00 4.18750 4.18750 4.18750 0
03/03/00 50.00000 4.18750 36.62500 2,158,500
03/10/00 38.50000 31.12500 31.50000 687,800

 

The American Sports Machine, Inc. was organized with the purpose to build recreational centers for small organized sports activities. But, it was unable to implement its proposed plan and became a "shell" company with the intent to acquire or merge with a business.

01/18/2000 - The American Sports Machine, Inc. began trading on the OTCBB market under the symbol AMRP. On the first day of trading, 45,000 shares traded at .03125 (split adjusted, or 11,250 shares at .125 non-split adjusted).

02/22/2000 - The American Sports Machine, Inc. issued a 4 for 1 forward stock split and began trading under the symbol AMRR.

03/01/2000 - The American Sports Machine, Inc. executed an Plan and Agreement of Merger among the Company and SoftQuad Software, Ltd., a Delaware corporation.

04/11/2000 - The American Sports machine, Inc. was renamed SoftQuad Software Ltd and began trading under the symbol SXML.

04/19/2000 - SoftQuad Software, Ltd completed a private placement of 2 million units at $7.50 per unit with gross proceeds of $15 million (US).

For more information, see the SEC filings for SoftQuad Software, LTD.