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AOXING PHARMACEUTICAL COMPANY, INC. FILES (8-K) Disclosing Unregistered Sale of Equity Securities

September 2, 2014



Item 3.02 Unregistered Sale of Equity Securities

On August 28, 2014 an agreement between the Registrant and six of its creditors became effective. The agreement provides that $4,626,289 in debt owed by the Registrant will be satisfied by the Registrant's issuance of a total of 11,862,278 shares of the Registrant's common stock. Three of the creditors are related parties of the Registrant, as indicated in the table below.

Creditor Debt Shares Zhenjiang Yue(1) $ 2,842,788 7,289,199 Yumin Yue(2) $ 486,224 1,246,727 Guoan Zhang(3) $ 324,149 831,152 Other Creditors $ 973,128 2,495,200 TOTAL $ 4,626,289 11,862,278



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(1) CEO of the Registrant (2) Daughter of the CEO of the Registrant (3) Acting Chief Financial Officer of the Registrant



The related party transactions were approved by the Audit Committee of the Registrant's Board of Directors. The transaction was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as not involving a public offering.


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Source: Edgar Glimpses


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