What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2022-03-29 compared with 2011-03-31 · 53 added, 48 removed, 2 unchanged (98% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Our common stock is quoted on the OTCQB under the symbol “SGLA.” Prior to February 22, 2011, our common stock was quoted on the OTC Bulletin Board.

The following table sets forth, for the periods indicated, the high and low bid prices of our common stock.

These prices reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not represent actual transactions.

First quarter*

Second quarter

Third quarter

Fourth quarter

* Information for the first quarter of 2011 is for the period January 1 to March 28, 2011.

Holders of our Common Stock

As of March 30, 2011, we had approximately 310 beneficial owners of our common stock.

We have never declared or paid a cash dividend.

Any future decisions regarding dividends will be made by our board of directors.

We currently intend to retain and use any future earnings for the development and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future.

Our board of directors has discretion on whether to pay dividends.

Even if our board of directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the board of directors may deem relevant.

Our ability to pay dividends may also be affected by currency control and other laws and regulations of the PRC which affect the ability of our Chinese subsidiaries to make payments to the United States parent company.

Equity Compensation Plan Information

The following table summarizes the equity compensation plans under which our securities may be issued as of December 31, 2010.

Plan Category

Number of securities to

be issued upon exercise

of outstanding options

Weighted-average

exercise price of

outstanding options and

Number of securities

remaining available for

future issuance under

equity compensation

Equity compensation plans approved by security holders

Equity compensation plan not approved by security holders

We do not have any equity compensation plans that were approved by our shareholders.

We authorized the issuance of 8,195,000 shares of common stock to our officers, directors and employees, of which we issued or accrued the issuance of 6,282,500 shares during 2010 and 1,912,500 shares are issuable during 2011, as follows.

Pursuant to an agreement with an independent director, we agreed to pay the director 12,500 shares of common stock every fiscal quarter.

As of December 31, 2010, we had issued 37,500 shares and had accrued the value of 12,500 shares, reflecting the shares that were due to such director, but had not been issued, as of December 31, 2010.

On June 21, 2010, we authorized the issuance of an aggregate of 7,195,000 shares of its common stock to officers, employees and advisors for services.

Of the shares that were issued, the rights to 5,945,000 shares had vested as of December 31, 2010.

The 5,000,000 shares issuable to three senior executives were issuable in four quarterly installments provided, that in the event of the death of a senior executive or certain other terminations of employment, the unvested shares are immediately issuable.

As of December 31, 2010, 5,945,000 shares were issuable, of which 4,470,000 shares had been issued.

On July 1, 2010, in connection with the election of two directors, pursuant to the director agreements, we are to issue 25,000 shares of common stock to each of these directors for each three month period of their directorship.

As of December 31, 2010, we had issued 50,000 shares and had accrued the value of 50,000 shares issuable through December 31, 2010.

On November 5, 2010, we entered into an employment agreement with the chief financial officer.

Pursuant to the agreement, the chief financial officer shall receive 500,000 shares of common stock, which vest in quarterly installments of 125,000 shares on each of October 15, 2010, January 15, 2011, April 15, 2011, and July 15, 2011, provided that the chief financial officer is employed by the company on those dates, except that, in certain cases, including her death or termination of her employment without cause, the unvested shares vest immediately.

As of December 31, 2010, we had issued 125,000 shares to the chief financial officer.

On November 18, 2010, we entered into an employment agreement with our corporate secretary, pursuant to which we agreed to issue to him 250,000 shares of common stock, which vest in quarterly installments of 62,500 shares on each of December 1, 2010, February 1, 2011, May 1, 2011, and August 1, 2011, provided that he is employed by us on those dates, except that, in certain cases, including his death or termination of his employment without cause, the unvested shares vest immediately.

As of December 31, 2010, we had issued 62,500 shares to him.

Company is authorized to issue 780,000,000 shares of common stock.

of December 31, 2021, the Company has 730,039,317 shares issued and outstanding.

Company is authorized to issue 20,000,000 shares of preferred stock.

of December 31, 2021, the Company has 1,259,858 shares issued and outstanding.

Agent and Registrar

transfer agent for our capital stock is EQ Shareowner Services, with an address at 1110 Centre Pointe Curve, Suite 101, Mendota Heights,

MN 55120 and telephone number is +1(800)401-1957.

Stock Regulations

Securities and Exchange Commission has adopted regulations which generally define “penny stock” to be an equity security

that has a market price of less than $5.00 per share.

Our Common Stock, when and if a trading market develops, may fall within the definition

of penny stock and be subject to rules that impose additional sales practice requirements on broker-dealers who sell such securities

to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000, or annual

incomes exceeding $200,000 individually, or $300,000, together with their spouse).

transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of such securities

and have received the purchaser’s prior written consent to the transaction.

Additionally, for any transaction, other than exempt

transactions, involving a penny stock, the rules require the delivery, prior to the transaction, of a risk disclosure document mandated

by the Securities and Exchange Commission relating to the penny stock market.

The broker-dealer also must disclose the commissions payable

to both the broker-dealer and the registered representative, current quotations for the securities and, if the broker-dealer is the sole

market-maker, the broker-dealer must disclose this fact and the broker-dealer’s presumed control over the market.

Finally, monthly

statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market

in penny stocks.

Consequently, the “penny stock” rules may restrict the ability of broker-dealers to sell our Common Stock

and may affect the ability of investors to sell their Common Stock in the secondary market.

addition to the “penny stock” rules promulgated by the Securities and Exchange Commission, the Financial Industry Regulatory

Authority (“FINRA”) has adopted rules that require that in recommending an investment to a customer, a broker-dealer must

have reasonable grounds for believing that the investment is suitable for that customer.

Prior to recommending speculative low priced

securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s

financial status, tax status, investment objectives and other information.

Under interpretations of these rules, FINRA believes that

there is a high probability that speculative low-priced securities will not be suitable for at least some customers.

The FINRA requirements

make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit the investors’

ability to buy and sell our stock.

future determination as to the declaration and payment of dividends on shares of our Common Stock will be made at the discretion of our

board of directors out of funds legally available for such purpose.

We are under no obligations or restrictions to declare or pay dividends

on our shares of Common Stock.

In addition, we currently have no plans to pay such dividends.

Our board of directors currently intends

to retain all earnings for use in the business for the foreseeable future.

Compensation Plan Information

there is no equity compensation plan in place.

Sales of Equity Securities

there is no unregistered sales of equity securities.

of Equity Securities by the Registrant and Affiliated Purchasers

have not repurchased any shares of our common stock during the fiscal year ended December 31, 2021.

SELECTED FINANCIAL DATA

Not required for smaller reporting companies.

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

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity