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Securities Exchange Act

Cyber Merchants Exchange Inc. Distributes ASAP Show Inc. Shares to Shareholders

Strategic Insights

— 1 min read

Cyber Merchants Exchange Inc. (the Company) made a significant move on August 25, 2005, by distributing a substantial number of shares of ASAP Show Inc. (ASAP) to its shareholders. This strategic decision marks a pivotal moment in the company's history, with far-reaching implications for its shareholders and stakeholders. The distribution of ASAP shares was made on a pro-rata basis, with 8,626,480 shares being awarded to shareholders of record on August 18, 2005. The shares were held in escrow by U.S. Stock Transfer Corporation until the registration of ASAP's common stock with the Securities and Exchange Commission (SEC) was completed.

Key Takeaways:

  • The Company distributed 8,626,480 shares of ASAP Show Inc. to its shareholders on a pro-rata basis.
  • The shares were held in escrow by U.S. Stock Transfer Corporation until the registration of ASAP's common stock with the SEC was completed.
  • ASAP will file a Form 10-SB with the SEC to register the shares of ASAP's common stock under Section 12(g) of the Securities Exchange Act of 1934.
  • The distribution was made pursuant to the requirements of the Securities Exchange Act of 1934.
  • The ASAP Shares were held by the depository agent until such time as the Form 10-SB had become effective and all comments from the SEC had been cleared.
  • The certificates representing the ASAP Shares will be disbursed by the depository agent to ASAP's shareholders at the time of registration.

Statistics:

  • 8,626,480 shares of ASAP Show Inc. were distributed to the Company's shareholders.
  • The shares were held in escrow by U.S. Stock Transfer Corporation until registration with the SEC was completed.
  • ASAP Show Inc. will file a Form 10-SB with the SEC to register 8,626,480 shares of common stock.
  • The Securities Exchange Act of 1934 requires companies to file a Form 10-SB for registration with the SEC.

Sources:

  • [1] Securities and Exchange Act of 1934
  • [2] Form 8-K filing, Cyber Merchants Exchange Inc., August 25, 2005
  • [3] U.S. Securities and Exchange Commission regulations

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