Yes. The company may issue fully paid, partly paid or
nil paid shares. A partly paid or nil paid share or a share issued for a
promissory note or other written obligation for payment of a debt may be issued
subject to forfeiture in the manner prescribed in the company's Articles of
Shares in the company may be issued for consideration in any form, including
money, a promissory note or other obligation to contribute money or property,
real property, personal property (including goodwill and know-how) services
rendered or a contract for future services and the amount of such consideration
shall be determined by resolution of directors, except that in the case of
shares with par value, the amount shall not be less than the par value, and in
the absence of fraud the decision of the directors as to the value of the
consideration received by the Company in respect of the issue is conclusive
unless a questions of law is involved.
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