RE: OT - Emit-SGE
posted on
Oct 20, 2005 11:46AM
Capital Solutions I, Inc. Rescission Effective, Cancellation of 30,000,000 Issued Shares
CORAL GABLES, Fla.--(BUSINESS WIRE)----Capital Solutions I, Inc., (OTCBB:CSON), announced on October 19, 2005, Capital Solutions I, Inc. entered into and closed a Rescission Agreement with Bedrock Holdings, Inc. together with each of the Bedrock Shareholders and certain other individuals.
Pursuant to the terms of the Rescission Agreement a Share for Share Exchange Agreement which had closed on May 16, 2005 was rescinded. The Company previously reported the entry into the Share for Share Exchange Agreement in a Form 8-K dated May 9, 2005 and the subsequent closing of the transaction in a Form 8-K dated May 26, 2005.
Pursuant to the Rescission Agreement the thirty million (30,000,000) shares of common stock which had been issued to the Bedrock Shareholders and certain other individuals have been cancelled and returned to the treasury. In addition, the Company has returned its shareholding in Bedrock Holdings, Inc. The Company shall assist with the filing of the necessary documents with the State of Florida to reinstate Bedrock as a corporation in good standing. The company now has 48,366,672 total issued shares, 41,500,000 restricted shares and 6,866,672 free trading shares issued.