Business
British Columbia Securities Commission - Cease Trade Order
British Columbia Securities Commission - Cease Trade Order.
About this update from Itokk, Inc.
[{"type":"text","content":"2010 BCSECCOM 582Cease Trade OrderItokk, Inc.Section 164 of the Securities Act, R.S.B.C. 1996, c. 418¶ 1 Itokk, Inc. (Itokk) is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets (BCI 51-509).¶ 2 Itokk has not filed:1.\ta business acquisition report disclosing the acquisition of Horizon Trust, as required under Part 8 of National Instrument 51-502 Continuous Disclosure Obligations (NI 51-102) and section 5(b) of BCI 51-509, 2.\tthe amendments to its articles of incorporation, constating documents or other documents effecting the rights of security holders not previously filed, including documents related to:(a)\tthe increase in its authorized capital from 200,000,000 shares of common stock with par value 0.001 per share to 2,900,000,000 shares of common stock with par value 0.0001 per share, and from 1,000,000 preferred shares with par value 0.001 per share to 100,000,000 preferred shares with par value 0.0001 per share(b)\tthe rights and restrictions attached to Itokk’s series A preferred shares, series B preferred shares, and series C preferred shares,(c)\tre-domiciling Itokk from Nevada to Wyoming, and(d)\tthe increase in its authorized capital to 50,000,000,000 shares of common stock and the change in par value of its shares from 0.0001 to 0.0000001 per share,as required under section 12.1 of NI 51-102 and section 5(b) of BCI 51-509,3. the following material contracts:(a)\tthe share exchange agreement with Horizon Trust, and(b)\tthe agreement with Horizon Trust to provide executive and corporate communications services to Itokk, and4.\tForm 45-106F1 Report of Exempt Distribution for the following distributions:(a)\t2,400,000,000 shares of common stock and 12,000,000 series B preferred shares in consideration for the shares of Horizon Trust,(b)\tseries B preferred shares for proceeds of approximately $366,500, and(c)\t400,000,000 “free-trading” shares of common stock on May 12, 2010as required under section 6.1 of National Instrument 45-106 Prospectus and Registration Exemptions(the required records).¶ 3 Under section 164(1) of the Act, the Executive Director orders that all trading in the securities of Itokk cease until:1.\tit files the required records, completed in accordance with the Act a...