Exhibit 13
SUBSCRIPTION AGREEMENT
Prudent Bear Funds, Inc.
0000 Xxxxxx Xxxx Xxxx
Xxxxx 000
Xxxxxx, XX 00000
Gentlemen:
The undersigned hereby subscribes to 10,000 shares of the Common
Stock, $0.0001 par value of Prudent Bear Funds, Inc., and agrees to pay to
said corporation the sum of $100,000 in cash.
It is understood that upon acceptance hereof by said corporation
a certificate or certificates representing the shares subscribed for shall
be issued to the undersigned and that said shares shall be deemed to be
fully paid and nonassessable.
The undersigned agrees that the shares are being purchased for
investment with no present intention of reselling or redeeming said
shares.
Dated and effective as of this 13th day of December, 1995.
/s/ Xxxxx X. Xxxx
Xxxxx X. Xxxx
/s/ Xxxxxx Xxxx
Xxxxxx Xxxx
The foregoing subscription is hereby accepted. Dated and
effective as of this 13th day of December, 1995.
PRUDENT BEAR FUNDS, INC.
By: /s/ Xxxxx X. Xxxx
Xxxxx X. Xxxx, President
