ISSUANCE OF TRADING SHARES. 6.1 Minimum price and maximum aggregate value - Although in most cases trading shares will be paid for in cash, trading shares may be issued for consideration other than cash. Subject to sections 6.2 through 6.6, an issuer may issue trading shares at a minimum price of $.25 per share up to an aggregate value equal to: (a) the amount of cash paid in as share capital; plus (b) the fair market value of any non-cash assets contributed as share capital; plus (c) the issuer's retained earnings, if any; less (d) where the issuer has an accumulated deficit, that portion of the accumulated deficit that does not directly relate to the issuer's stated business purpose at the time of its IPO.
Appears in 3 contracts
Samples: Escrow Agreement (Minco Mining & Metals Corp), Escrow Agreement (Dsi Datotech Systems Inc), Performance Shares Escrow Agreement (Minco Mining & Metals Corp)
ISSUANCE OF TRADING SHARES. 6.1 Minimum price and maximum aggregate value - Although in most cases trading shares will be paid for in cash, trading shares may be issued for consideration other than cash. Subject to sections 6.2 through 6.6, an issuer may issue trading shares at a minimum price of $.25 per share up to an aggregate value equal to:
(a) the amount of cash paid in as share capital; plus
(b) the fair market value of any non-cash assets contributed as share capital; plus
(c) the issuer's retained earnings, if any; less
(d) where the issuer has an accumulated deficit, that portion of the accumulated deficit that does not directly relate to the issuer's stated business purpose at the the-time of its IPO.
Appears in 1 contract
Samples: Performance Escrow Agreement (Response Biomedical Corp)
ISSUANCE OF TRADING SHARES. 6.1 Minimum price and maximum aggregate value - -- Although in most cases trading shares will be paid for in cash, trading shares may be issued for consideration other than cash. Subject to sections 6.2 through 6.6, an issuer may issue trading shares at a minimum price of $.25 per share up to an aggregate value equal to:
(a) the amount of cash paid in as share capital; plus
(b) the fair market value of any non-cash assets contributed as share capital; plus
(c) the issuer's retained earnings, if any; less
(d) where the issuer has an accumulated deficit, that portion of the accumulated deficit that does not directly relate to the issuer's stated business purpose at the time of its IPO.
Appears in 1 contract
Samples: Performance Shares Allotment Agreement (Global Election Systems Inc)
