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Pacific Coast Fisheries Corporation issued more than 5 percent of its public shares to Fujian...

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Accounting

Pacific Coast Fisheries Corporation issued more than 5 percent of its public shares to Fujian Pelagic Fishery Group Comp the laws of the state of Washington. Fujian did not pay cash for the shares, instead issuing to Pacific Coast a promissory nc committing it to pay in the future in the form of merchandise. Has Fujian paid a proper consideration for the shares?
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