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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
PURCHASE POINT MEDIA CORPORATION
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(Exact name of registrant as specified in its charter)
Minnesota 41-1853993
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
575 Lexington Avenue
New York, NY 10022
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(Address of Principal Executive Office) (Zip Code)
Commission File No.: 000-25385
Compensation Plans
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(Full title of the plan)
Albert P. Folsom, President
575 Lexington Avenue
New York, NY 10022
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(Name and address of agent for service)
(604) 926-7859
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(Telephone number, including area code, of agent for service)
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CALCULATION OF REGISTRATION FEE
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Title of Proposed Proposed
Securities to Amount Maximum Maximum Amount of
Registration to be Offering Price Aggregate
Be Registered Registered Per Share (1) Offering Price (1) Fee
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Common Stock, 250,000 $ 0.08 $ 20,000.00 $ 2.35
par value $.0001
per share
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(1) Estimated solely for the purpose of calculating the amount of the
registration fee pursuant to Rule 457, based on the closing price of the
Common Stock, as reported by the OTC Bulletin Board, on February 22, 2005.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
ITEM 1. PLAN INFORMATION
Pursuant to the Note to Part I of the Form S-8, the information required
by Part I is not filed with the Securities and Exchange Commission.
ITEM 2. INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
Registrant will provide without charge to each person to whom a copy of a
Section 10(a) Prospectus hereunder is delivered, upon the oral or written
request of such person, a copy of any document incorporated in this Registration
Statement by reference. Requests for such information should be directed to
Purchase Point Media Corporation, Albert P. Folsom, President and Chief
Executive Officer, 575 Lexington Avenue. New York, NY 10022; telephone (604)
926-7859.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE.
The following documents previously filed with the Commission pursuant to
the 1934 Act are hereby incorporated in this prospectus by reference:
1. Purchase Point Media Corporation's Annual Report on Form 10-KSB for the
year ended June 30, 2004;
2. Purchase Point Media Corporation's Quarterly Report on Form 10-QSB for
the quarter ended September 30, 2004 and December 31, 2004; and
3. All reports filed by Registrant pursuant to Section 13(a) or 15(d) of
the Exchange Act since February 11, 1999.
All documents filed by Purchase Point Media Corporation, pursuant to
Section 13(a), 13(c), 14 or 15(d) of the 1934 Act subsequent to the date of this
prospectus and prior to the termination of this offering, shall be deemed to be
incorporated by reference into this prospectus. Any information incorporated by
reference shall be modified or superseded by any information contained in this
prospectus or in any other document filed later with the Commission, which
modifies or supersedes such information. Any information that is modified or
superseded shall become a part of this prospectus as the information has been so
modified or superseded.
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We will provide without charge to each person to whom a prospectus is delivered,
upon written or oral request of such person, a copy of any and all of the
information that has been incorporated by reference in this prospectus
(excluding exhibits unless such exhibits are specifically incorporated by
reference into such documents). Please direct such requests to Albert P. Folsom,
President and Chief Executive Officer, 575 Lexington Avenue. New York, NY 10022;
telephone (604) 926-7859.
All documents filed by the Company with the Commission pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this
Registration Statement and prior to the time a post-effective amendment which
indicates that the securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date
of filing of such documents.
Any statement contained in any document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or is
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed,
except as modified or superseded, to constitute a part of this Registration
Statement.
ITEM 4. DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Not Applicable
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
The Company is a Minnesota corporation. Reference is made to Section 145
of the Minnesota Corporation Law (the "MCL"), which provides that a corporation
may indemnify any person, including an officer or director, who is, or is
threatened to be made, party to any threatened, pending or completed legal
action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of such corporation), by
reason of the fact that such person is or was an officer, director, employee, or
agent of such corporation or is or was serving at the request of such
corporation as an officer, director, employee, or agent of another corporation
or enterprise. The indemnity may include expenses (including attorneys' fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred
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by such person in connection with such action, suit or proceeding, provided such
officer, director, employee, or agent acted in good faith and in a manner he
reasonably believed to be in or not opposed to the corporation's best interests
and, with respect to criminal proceedings, had no reasonable cause to believe
that his conduct was unlawful. Section 145 of the MCL provides further that a
Minnesota corporation may indemnify officers and directors in an action by or in
the right of the corporation under the same conditions, except that no
indemnification is permitted without judicial approval if the officer or
director is adjudged to be liable to the corporation. Where an officer or
director is successful on the merits or otherwise in the defense of any action
referred to above or any claim therein, the corporation must indemnify him
against the expenses that such officer or director actually and reasonably
incurred. The certificate of incorporation of the Company provides for
indemnification of its officers and directors to the full extent permitted by
the MCL.
The certificate of incorporation also provides that directors of the
Company will not be personally liable for monetary damages for breach of a
director's fiduciary duty as a director, except for liability (i) for any breach
of the director's duty of loyalty to the Company or its shareholders, (ii) for
acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii) for unlawful payment of dividends or unlawful
stock repurchases or redemptions as provided in the MCL, or (iv) for any
transaction from which the director derived an improper personal benefit.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable
ITEM 8. EXHIBITS.
3.1 Articles of Incorporation of the Company, as amended (1)
3.2 By-laws of the Company, as amended (1)
5.1 Opinion of Michael S. Krome, Esq. (2)
23.1 Consent of Madsen & Associates, CPA's Inc., Independent Auditor (2)
Consent of Michael S. Krome, Esq. (included in Exhibit 5.1)
(1) Incorporated by reference from the Company's Amended Report on Form
10-KSB, filed with the Commission on February 22, 2002, and as
amended thereafter, and incorporated herein by reference.
(2) Filed herewith
ITEM 9. UNDERTAKINGS.
The undersigned, the Company, hereby undertakes:
(a)(1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933 (the "Securities Act");
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(ii) To reflect in the prospectus any facts or events arising after
the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represents a fundamental change in the information set forth in the registration
statement;
(iii) To include any material information with respect to the plan
of distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement.
PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed by the Company
pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned the Company hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the Company's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the Company pursuant to the foregoing provisions, or otherwise, the Company
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against pubic policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Company of expenses incurred or
paid by a director, officer or controlling person of the Company in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Company will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Company
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, hereunto duly
authorized, in the City, State of New York, on February 23, 2005.
Purchase Point Media Corporation
By: /s/ Albert P. Folsom
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Albert P. Folsom
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below
constitutes and appoints Albert P. Folsom, his attorney-in-fact and agent, with
full power of substitution, for him and in his name, place and stead, in any and
all capacities, to sign any or all amendments to this Registration Statement,
and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact and agent full power and authority to do and perform each
and every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, or his substitute or substitutes, may lawfully do or cause to be done by
virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the date indicated:
Signature Title Date
(1) Principal Executive
/s/ Albert P. Folsom President, CEO February 23, 2005
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Albert P. Folsom
(2) Directors
/s/ Albert P. Folsom Chairman of the Board February 23, 2005
- ------------------------------ of Directors
Albert P. Folsom
/s/ Raymond A. Hatch Director February 23, 2005
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Raymond A. Hatch
/s/ Michael F. Rueling Director February 23, 2005
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Michael F. Rueling
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EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
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3.3 Articles of Incorporation of the Company, as amended (1)
3.4 By-laws of the Company, as amended (1)
5.1 Opinion of Michael S. Krome, Esq. (2)
23.1 Consent of Madsen & Associates, CPA's Inc., Independent Auditor (2)
Consent of Michael S. Krome, Esq. (included in Exhibit 5.1)
(1) Incorporated by reference from the Company's Amended Report on Form
10-KSB, filed with the Commission on February 11, 1999, and as amended
thereafter, and incorporated herein by reference.
(2) Filed Herewith
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