4 unchanged sentences
Agent and Registrar
−Removed: transfer agent for our capital stock is VStock Transfer, LLC, with an address at 18, Lafayette Place, Woodmere, New York 11598
−Removed: and telephone number is +1 (212)828-843.
+Added: transfer agent for our capital stock is VStock Transfer, LLC, with an address at 18, Lafayette Place, Woodmere, New York 11598 and telephone
+Added: number is +1 (212) 828-8436.
Stock Regulations
1 unchanged sentence
that has a market price of less than $5.00 per share.
−Removed: Our Common Stock, when and if a trading market develops, may fall within
−Removed: the definition of penny stock and be subject to rules that impose additional sales practice requirements on broker-dealers who
−Removed: sell such securities to persons other than established customers and accredited investors (generally those with assets in excess
−Removed: of $1,000,000, or annual incomes exceeding $200,000 individually, or $300,000, together with their spouse).
−Removed: transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of such
−Removed: securities and have received the purchaser’s prior written consent to the transaction.
−Removed: Additionally, for any transaction,
−Removed: other than exempt transactions, involving a penny stock, the rules require the delivery, prior to the transaction, of a risk disclosure
−Removed: document mandated by the Securities and Exchange Commission relating to the penny stock market.
−Removed: The broker-dealer also must disclose
−Removed: the commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and,
−Removed: if the broker-dealer is the sole market-maker, the broker-dealer must disclose this fact and the broker-dealer’s presumed
−Removed: control over the market.
−Removed: Finally, monthly statements must be sent disclosing recent price information for the penny stock held
−Removed: in the account and information on the limited market in penny stocks.
−Removed: Consequently, the “penny stock” rules may restrict
−Removed: the ability of broker-dealers to sell our Common Stock and may affect the ability of investors to sell their Common Stock in the
−Removed: secondary market.
−Removed: addition to the “penny stock” rules promulgated by the Securities and Exchange Commission, the Financial Industry
−Removed: Regulatory Authority (“FINRA”) has adopted rules that require that in recommending an investment to a customer, a
−Removed: broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer.
−Removed: Prior to recommending
−Removed: speculative low priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain
−Removed: information about the customer’s financial status, tax status, investment objectives and other information.
−Removed: Under interpretations
−Removed: of these rules, FINRA believes that there is a high probability that speculative low-priced securities will not be suitable for
−Removed: at least some customers.
−Removed: The FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy
−Removed: our common stock, which may limit the investors’ ability to buy and sell our stock.
−Removed: future determination as to the declaration and payment of dividends on shares of our Common Stock will be made at the discretion
−Removed: of our board of directors out of funds legally available for such purpose.
−Removed: We are under no obligations or restrictions to declare
−Removed: or pay dividends on our shares of Common Stock.
+Added: Our Common Stock, when and if a trading market develops, may fall within the definition
+Added: of penny stock and be subject to rules that impose additional sales practice requirements on broker-dealers who sell such securities
+Added: to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000, or annual
+Added: incomes exceeding $200,000 individually, or $300,000, together with their spouse).
+Added: transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of such securities
+Added: and have received the purchaser’s prior written consent to the transaction.
+Added: Additionally, for any transaction, other than exempt
+Added: transactions, involving a penny stock, the rules require the delivery, prior to the transaction, of a risk disclosure document mandated
+Added: by the Securities and Exchange Commission relating to the penny stock market.
+Added: The broker-dealer also must disclose the commissions payable
+Added: to both the broker-dealer and the registered representative, current quotations for the securities and, if the broker-dealer is the sole
+Added: market-maker, the broker-dealer must disclose this fact and the broker-dealer’s presumed control over the market.
+Added: Finally, monthly
+Added: statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market
+Added: in penny stocks.
+Added: Consequently, the “penny stock” rules may restrict the ability of broker-dealers to sell our Common Stock
+Added: and may affect the ability of investors to sell their Common Stock in the secondary market.
+Added: addition to the “penny stock” rules promulgated by the Securities and Exchange Commission, the Financial Industry Regulatory
+Added: Authority (“FINRA”) has adopted rules that require that in recommending an investment to a customer, a broker-dealer must
+Added: have reasonable grounds for believing that the investment is suitable for that customer.
+Added: Prior to recommending speculative low-priced
+Added: securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s
+Added: financial status, tax status, investment objectives and other information.
+Added: Under interpretations of these rules, FINRA believes that
+Added: there is a high probability that speculative low-priced securities will not be suitable for at least some customers.
+Added: The FINRA requirements
+Added: make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit the investors’
+Added: ability to buy and sell our stock.
+Added: future determination as to the declaration and payment of dividends on shares of our Common Stock will be made at the discretion of our
+Added: board of directors out of funds legally available for such purpose.
+Added: We are under no obligations or restrictions to declare or pay dividends
+Added: on our shares of Common Stock.
In addition, we currently have no plans to pay such dividends.
−Removed: Our board of directors
−Removed: currently intends to retain all earnings for use in the business for the foreseeable future.
+Added: Our board of directors currently intends
+Added: to retain all earnings for use in the business for the foreseeable future.
Compensation Plan Information
5 unchanged sentences
SELECTED FINANCIAL DATA
−Removed: are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide
−Removed: the information under this item.
+Added: are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
+Added: under this item.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.