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PLKC: Makin' a Move
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[QUOTE]Originally posted by Love the Market: [QB] Hi aurel and Welcome! That's old news PLUS those 140,000,000 are based on performance: see below: Form: 10QSB Filing Date: 8/15/2005 Performance Contract with CEO/CFO "On or about August 12, 2005, effective August 8, 2005, the Company entered into a contract with H. Dewey Bain, its chief executive officer and President pursuant to which it issued to him 140,000,000 shares of its common stock, $.001 par value per share. The contract provides that the Company must have either a net profit of $1,500,000 for the year ending December 31, 2005 or $5,000,000 of revenues for the year ending December 31, 2005. In the event that neither of those performance criteria are met, the 140,000,000 shares must be returned to the Company within three business days. A copy of the agreement with Mr. Bain is an exhibit hereto. The Company issued the securities to Mr. Bain pursuant to the exemption from registration afforded by ss.4(2) of the Securities Act of 1933 (Transactions by an issuer not involving any public offering). In accordance with the contract, the certificate for the shares has been appropriately legended and, although issued, is being held in escrow until the Company can determine whether either of the goals set forth in the agreement with Mr. Bain has been satisfied". [/QB][/QUOTE]
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