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Reverse Merger Book
The Anatomy of a Shell Stock
The American Sports Machine, Inc. was organized with the purpose to build recreational centers for small organized sports activities. But, it was unable to implement its proposed plan and became a "shell" company with the intent to acquire or merge with a business.
01/18/2000 - The American Sports Machine, Inc. began trading on the OTCBB market under the symbol AMRP. On the first day of trading, 45,000 shares traded at .03125 (split adjusted, or 11,250 shares at .125 non-split adjusted).
02/22/2000 - The American Sports Machine, Inc. issued a 4 for 1 forward stock split and began trading under the symbol AMRR.
03/01/2000 - The American Sports Machine, Inc. executed an Plan and Agreement of Merger among the Company and SoftQuad Software, Ltd., a Delaware corporation.
04/11/2000 - The American Sports machine, Inc. was renamed SoftQuad Software Ltd and began trading under the symbol SXML.
04/19/2000 - SoftQuad Software, Ltd completed a private placement of 2 million units at $7.50 per unit with gross proceeds of $15 million (US).
For more information, see the SEC filings for SoftQuad Software, LTD.