Background: Incorporation and Merger
The Company was originally incorporated under the laws of the State of Nevada on April 8, 1998.
The Company and Satellite Security Systems, Inc., a California corporation (“Satellite”), entered into an Agreement and Plan of Merger dated December 9, 2005 (the “Merger Agreement”). On December 31, 2005, pursuant to the terms of the Merger Agreement, Satellite merged with and into a wholly owned subsidiary of the Company (the “Merger”) whereby the Company issued one share of its common stock in exchange for each 3.12 shares of Satellite outstanding. Holders of the 32,979,813 outstanding shares...