PART II |
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INFORMATION REQUIRED IN THE REGISTRATION STATEMENT |
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Item 3. |
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Incorporation of Certain Documents by Reference |
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The following documents, previously filed with the Securities and Exchange Commission (the |
"Commission") under the Securities Exchange Act of 1934 (the "Exchange Act") by US Biodefense, Inc. (the |
Company") are incorporated herein by reference: |
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(a) |
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The Company's Form 10-SB Registration Statement, initially filed by the Company under the |
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Securities Exchange Act with the Commission on September 1, 2000, and amendments thereto; |
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(b) |
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The Companys latest annual report for its fiscal year ended November 30, 2006 filed pursuant to |
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Section 13(a) or 15(d) of the Exchange Act; and |
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(c) |
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All other reports filed pursuant to Sections 13(a) or 15(d) of the Exchange Act since the end of the |
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fiscal year covered by the registrant |
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In addition, all documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the |
Exchange Act subsequent to the date hereof and prior to the filing of a post-effective amendment which |
indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, |
shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the |
date of filing of such documents. |
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Item 4. |
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Description of Securities |
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All shares of Common Stock bear equal voting rights and are non assessable. Voting rights are not |
cumulative, and so holders of more than 50% of the shares could, if they chose, elect all the Directors. Upon |
liquidation, dissolution or winding up of the Company, the assets of the Company, if any, after payment of |
liabilities and any liquidation preferences on any outstanding preferred stock, will be distributed pro rata to |
the holders of the Common Stock. The holders of the Common Stock do not have preemptive rights to |
subscribe for any securities of the Company and have no right to require the Company to redeem or purchase |
their shares. Holders of Common Stock are entitled to share equally in dividends when, as and if declared by |
the Board of Directors, out of funds legally available therefore. |
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Item 5. |
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Interests of Named Experts and Counsel |
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Not applicable. |
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Item 6. Indemnification of Directors and Officers |
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As permitted by the provisions of the Utah Revised Business Corporation Act (the "Utah Act"), the |
Company has the power to indemnify an individual made a party to a proceeding because they are or were a |
director, against liability incurred in the proceeding, if such individual acted in good faith and in a manner |
reasonably believed to be in, or not opposed to, the best interest of the Company and, in a criminal |
proceeding, they had no reasonable cause to believe their conduct was unlawful. Indemnification under this |
provision is limited to reasonable expenses incurred in connection with the proceeding. The Company must |
indemnify a director or officer who is successful, on the merits of otherwise, in the defense of any |
proceeding or in defense of any claim, issue, or matter in the proceeding, to which they are a party to because |
they are or were a director of officer of the Company, against reasonable expenses incurred by them in |
connection with the proceeding or claim with respect to which they have been successful. Pursuant to the |
Utah Act, the Company's Board of Directors may indemnify its officers, directors, agents, or employees |
against any loss or damage sustained when acting in good faith in the performance of their corporate duties. |
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The Company may pay for or reimburse reasonable expenses incurred by a director, officer |
employee, fiduciary or agent of the Company who is a party to a proceeding in advance of final disposition |
of the proceeding provided the individual furnishes the Company with a written affirmation that their |
conduct was in good faith and in a manner reasonably believed to be in, or not opposed to, the best interest of |
the Company, and undertake to pay the advance if it is ultimately determined that they did not meet such |
standard of conduct. |
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Also pursuant to the Utah Act, a corporation may set forth in its articles of incorporation, by-laws or |
by resolution, a provision eliminating or limiting in certain circumstances, liability of a director to the |
corporation or its shareholders for monetary damages for any action taken or any failure to take action as a |
director. |
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This provision does not eliminate or limit the liability of a director (i) for the amount of a financial |
benefit received by a director to which they are not entitled; (ii) an intentional infliction of harm on the |
corporation or its shareholders; (iii) for liability for a violation of Section 16- 10a-842 of the Utah Act |
(relating to the distributions made in violation of the Utah Act); and (iv) an intentional violation of criminal |
law. To date, the Company has not adopted such a provision in its Articles of Incorporation, By-Laws, or by |
resolution. A corporation may not eliminate or limit the liability of a director for any act or omission |
occurring prior to the date when such provision becomes effective. The Utah Act also permits a corporation |
to purchase and maintain liability insurance on behalf of its directors, officers, employees, fiduciaries or |
agents. |
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Insofar as indemnification for liabilities arising under the Securities Act may be permitted to |
directors, officers and controlling persons of the Registrant 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 public policy as expressed in the Securities Act and is, therefore, |
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment |
by the registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant 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 Registrant 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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Item 9. Undertakings |
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(a) The undersigned Company hereby undertakes: |
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(1) |
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To file, during any period in which offers or sales are being made, a post-effective amendment to |
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this registration statement to include any material information with respect to the plan of |
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distribution not previously disclosed in the registration statement or any material change to such |
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information in the registration statement. |
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(2) |
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That, for the purpose of determining any liability under the Securities Act of 1933, each such |
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post-effective amendment shall be deemed to be a new registration statement relating to the |
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securities offered therein, and the offering of such securities at that time shall be deemed to be |
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the initial bona fide offering thereof. |
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(3) |
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To remove from registration by means of a post-effective amendment any of the securities being |
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registered which remain unsold at the termination of the offering. |
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(b) The undersigned Company hereby undertakes that, for purposes of determining any liability under the |
Securities Act of 1933, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) |
of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's |
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) 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. |
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(c) Insofar as indemnification for liabilities arising under Securities Act of 1933 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 public policy as expressed in the Act and is, therefore, unenforceable. In the |
event that a claim for indemnification against such liabilities (other than payment by the Company of |
expenses paid or incurred 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 Act and will be governed by |
the final adjudication of such issue. |
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