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In relation to the approvals of the Board of Directors of IPVG Corporation (the "Corporation") on a.) 05 January 2012 to issue 400 Million Shares in favor of BDO Private Bank, Inc. acting as trustee for Trust Account No. 84-1-203-0178; and b.) on 20 March 2012 and 27 April 2012 to issue 23,500,000 and 10,857,000 shares, respectively, in favor of the lending shareholders/assigns of GEM Global Yield Fund Limited ("GEM"), pursuant to the 29 April 2009 Investment Agreement with the GEM Group, the Corporation issued the following shares:
Pursuant to the above issuance of shares, the Issued and Outstanding Capital Stock ("OCS") of the Corporation changed as follows:
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