It is Asia Sample Clauses

It is Asia. Pacific's intention to raise an additional Three Million Nine Hundred Thousand Dollars ($3,900,000) by the sale of equity capital subsequent to the date of this Agreement as follows: (a) Two Million Four Hundred Thousand Dollars ($2,400,000) by July 31, 1999; and (b) an additional One Million Five Hundred Thousand Dollars ($1,500,000) by September 30, 1999. For every common share of Asia Pacific issued to raise the funds provided for in sub-paragraphs (a) and (b) of this paragraph 1.02, Asia Pacific agrees to issue one and one-half (1 1/2) common shares in its capital stock to International, which shares are to be issued on September 30, 1999 or, to the extent that the funds are raised subsequent to September 30, 1999, such later date(s) as International may agree to, with all of these shares to be held in escrow by an independent escrow agent and released to International from escrow on the same basis as the 6,623,016 common shares to be held in escrow pursuant to paragraph 1.01 hereof.
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