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EXCEL - IDEA: XBRL DOCUMENT - PAN GLOBAL, CORP.Financial_Report.xls
10-K - PAN GLOBAL, CORP.form10k.htm
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XML - IDEA: XBRL DOCUMENT - PAN GLOBAL, CORP.R8.htm
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EX-10.2 - PAN GLOBAL, CORP.ex10-2.htm
EX-32.1 - CERTIFICATION PURSUANT TO - PAN GLOBAL, CORP.ex32-1.htm
EX-10.1 - PAN GLOBAL, CORP.ex10-1.htm
EX-31.1 - CERTIFICATION OF THE COMPANY S PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER - PAN GLOBAL, CORP.ex31-1.htm
v2.4.0.6
Preferred Stock
12 Months Ended
Sep. 30, 2012
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]  
Preferred Stock

NOTE 4 − Preferred Stock

 

As of September 30, 2012, the Company is authorized to issue 10,000,000 shares of Preferred Stock, par value of $0.0001 per share of which 4,500,000 shares of Series A convertible preferred stock was issued and outstanding.

 

Series A Convertible Preferred Stock

 

On September 24, 2012, the Company’s Board designated 4,500,000 shares of Preferred Stock as Series A Convertible Preferred Stock and filed a Certificate of Designations with the Secretary of State of the State of Nevada.

 

On September 25, 2012, the Company sold an aggregate of 4,500,000 shares of Series A Convertible Preferred Stock to one individual for $0.0001 per share thereby generating proceeds of $450.00. The Company sold these securities under Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), since the sale by did not involve a public offering of securities. The offering was not a “public offering” as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of securities offered. The Company did not undertake an offering in which it sold a high number of securities to a high number of investors. In addition, the investor represented that he had the necessary investment intent as required by Section 4(2) and agreed to and received share certificates bearing a legend stating that such securities are restricted pursuant to Rule 144 of the Securities Act. This restriction ensures that these securities would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, the Company has met the requirements to qualify for exemption under Section 4(2) of the Securities Act for this transaction.