Find A Law Firm

Capitalisation of Profits by Issue of Bonus Shares

Capitalisation of  Profits by Issue of Bonus Shares

Issue of bonus shares by the capitalisation of profits or reserves Proviso to section 205(3) stipulates that profits or reserves of a company may be capitalised by issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any shares held by the members of the company.

Provisions of Table A in respect of issuance of bonus shares:

A company cannot issue bonus shares, unless it is authorised by its articles, therefore, the articles of a company must contain provisions for authorisation for issue of bonus shares. In absence of such authorisation, articles will have to be altered by applying the procedure laid down under section 31 of the Act. Regulations contained in Table A of the Act apply to a public company limited by shares to the extent they are not inconsistent with the articles of that company. Section 28(2) says that the regulations contained in Table A shall apply to a company limited by shares, insofar as the Articles of the concerned company do not exclude or modify them.

Regulation numbers 96 and 97 deal with capitalisation of profits by issuance of bonus shares.

These are reproduced hereunder:

Regulation No. 96:—

(1)        The company in general meeting may, upon the recommendation of the Board, resolve—

(a) that it is desirable to capitalise any part of the amount for the time being standing to the credit of any of the company's reserve accounts, or to the credit of the profit and loss account, or otherwise available for distribution; and

(b) that such sum be accordingly set free for distribution in the manner specified in clause (2) amongst the members who would have been entitled thereto, if distributed by way of dividend and in the same proportions.

(2)        The sum aforesaid shall not be paid in cash but shall be applied, subject to the provision contained in clause (3), either in or towards—

(i) paying up any amounts for the time being unpaid on any shares held by such members respectively;

(ii) paying up in full, unissued shares of the company to be allotted and distributed, credited as fully paid up, to and amongst such members in the proportions aforesaid; or

(iii) partly in the way specified in sub-clause (i) and partly in that specified in sub clause

(3)        A share premium account and a capital redemption reserve account may, for the purposes of this regulation, only be applied in the paying up of unissued shares to be issued to members of the company as fully paid bonus shares.

(4)        The Board shall give effect to the resolution passed by the company in pursuance of this regulation.

Regulation No. 97:

(1)        Whenever such a resolution as aforesaid shall have been passed, the Board shall—

(a) make all appropriations and applications of the undivided profits resolved to be capitalised thereby, and all allotments and issues of fully paid shares, if any; and

(b) generally do all acts and things required to give effect thereto.

(2)        The Board shall have full power—

(a) to make such provision, by the issue of fractional certificates or by payment in cash or otherwise as it thinks fit, for the case of shares or debentures becoming distributable in fractions; and also

(b) to authorise any person to enter, on behalf of all the members entitled thereto, into an agreement with the company providing for the allotment to them respectively, credited as fully paid up, of any further shares to which they may be entitled upon such capitalisation, or (as the case may require) for the payment by the company on their behalf, by the application thereto of their respective proportions of the profits Resolve  to be capitalised, of the amounts or any part of the amounts remaining unpaid on their existing shares.

(3)    Any agreement made under such authority shall be effective and binding on all such members.

Factors affecting issue of bonus shares

A company has to consider many important factors before taking of decision for issuance of bonus shares. A list of such factors are given below:—

(i) quantum of free reserves built out of genuine profits including share premium collected in cash only;

(ii) present authorised and paid up share capital;

(iii) present equity share capital base in relation to   earnings of the company;

(iv) quantum of earnings of the company in last two or three years;

(v) return on equity capital after deduction of tax and preference dividend, if any;

(vi) projected earnings of the company in next two or three years;

(vii) company's capacity to maintain earnings on the expanded capital after issuance of bonus shares;

(viii) tax benefits;

(ix) government policies;

(x) trends in capital markets;

(xi) present share price and estimated price of the company's shares after issuance of bonus shares.

Provisions contained in the Companies Act, 1956

The Companies Act, 1956 does not contain a separate set of sections dealing with bonus shares. The Act though has made references to bonus issue/shares in its certain sections. Reference may be made to section 205 of the Companies Act, 1956, which provides that dividend could only be paid out of profits. The proviso to subsection (3) of section 205 permits capitalisation of profits or reserve of a company for the purpose of issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any shares held by the members of the company. Clearly, the Companies Act specifically permits utilisation of reserve arising out of revaluation of assets for purpose of issuing fully paid up bonus shares. By issue of bonus shares value of shares is likely to reduce proportionately, i.e., in the ratio number of bonus shares bears to increased number of shares after bonus issue. [Chandrakant Mulraj v Tata Engg. & Locomotive Co. Ltd. (1985) 58 Comp Cas 320 (Bom)]. Bonus shares are capital in hands of shareholders and not dividend; bonus shares do not give them an immediate right to a larger amount of the existing assets but simply confer a title to a larger proportion of the surplus assets in the event of winding up. [IRC v Blott (1921) 2 AC 171 (HL)]. Bonus may also be issued from the reserves created out of revaluation of capital assets The Supreme Court held in case of Bhagwati Developers v Peerless General Finance & Investment Co. Ltd and Others (2005) 62 SCL 574 (SC) decided on 9 th August, 2005 that proviso of section 205(3) permits capitalisation of profit or reserves of a company for the purpose of issuance of fully paid up shares. However, the shares issued by way of capitalisation of revaluation reserves will not be considered for promoters contribution under the SEBI guidelines.

The paid up share capital after bonus issue must be within the authorized share capital of the company, otherwise authorised share capital of the company shall have to be increased at first place and then the company can go in for a bonus issue. In the case of the allotment of bonus shares, a return of allotment shall be filed electronically in the prescribed e-Form 2 enclosing with the resolution of the Board of director authorising the issuance of bonus shares along with the requisite filing fee as per Schedule X to the Companies Act, 1956 within a period of thirty days after the date of allotment. Such return shall state the number and nominal amount of shares comprised in such allotment and the names, addresses and occupations of the allottees. [Section 75(1)(c)(i)]

Comments
 Girish Paralikar July 28, 2010
If the Bonus shares are issued out of revaluation reserves and for some reason, if the value of the assets gets reduced, then what will be the position of the Bonus shares so allotted. Although the Act is silent on this, we should take it in its spirit and not by letters and hence, Bonus out of revaluation reserves should not be resorted.
 vallari rastogi March 4, 2011
is there any restriction on the amount that can be capitalised for bonus issue?
also if the company has never paid any dividend then it can issue bonus shares out of profit?
 nitin bhatia August 17, 2011
a unlisted co. can issue bonus share out of revaluation reserve but it cannot be consider while calculating the minimum promoters contribution.
 Anil Aggarwal November 1, 2011
Should there be any time gap between issue of two bonus issues by a private limited company
 amit kumar December 26, 2011
a public ltd but unlisted company has never paid any dividend having huge reserve created out of profit. from this researve company can issue bonues share
 Hanna P Nazir April 5, 2012
Is there any restriction on the amount that can be capitalised for bonus issue?
JYOTHI SWAROOPA February 27, 2013
Calrify my query
ssbhat July 31, 2013
if there is any quontum restrictions for bonus shares by a private co.
Byronhit May 29, 2017
Hanot bentiromide test intracranial granulomatous arteritis buy paxil online Jacobson cartilage Denonvilliers fascia abdominal part of thoracic duct
MichaelWhemn June 2, 2017
wh0cd380839 buy amoxil medrol dose pack no presciption clindamycin lowest prices
MichaelWhemn June 28, 2017
wh0cd747847 sildenafil Buy Viagra Soft Tabs viagra canada
AlfredEpict July 10, 2017
wh0cd359722 innopran xl zestoretic arava cost viramune zantac
AlfredEpict July 10, 2017
wh0cd506672 buy atenolol buy celebrex online get more info cephalexin cialis cost
CharlesDew July 10, 2017
wh0cd653619 mevacor chloramphenicol quibron-t mestinon generic
BennyBah July 11, 2017
wh0cd551533 buy azithromycin Buy Sildenafil Order Cymbalta
Kennethked July 11, 2017
wh0cd551523 nexium clonidine hcl
Kennethked July 11, 2017
wh0cd845415 rosuvastatin Baclofen No Prescription visit this link
AlfredEpict July 16, 2017
wh0cd229003 Bentyl order paxil online purchase lasix
CharlesDew July 17, 2017
wh0cd126908 kamagra phenergan maxalt ciprofloxacin hcl prinivil propecia buy proscar online
CharlesDew July 17, 2017
wh0cd273854 BUY TENORMIN generic plavix cost Toradol Generic
AlfredEpict July 17, 2017
wh0cd200384 cymbalta no rx
AlfredEpict July 18, 2017
wh0cd318703 order baclofen zoloft kamagra mebendazole price
Kennethked July 19, 2017
wh0cd290083 wellbutrin pills
AlfredEpict July 20, 2017
wh0cd41042 avodart prices provera tamoxifen
CharlesDew July 20, 2017
wh0cd951345 colchicine buy eurax doxycycline cheap doxycycline
AlfredEpict July 20, 2017
wh0cd877879 speman rhinocort lasuna online altace desyrel 50 mg femara micronase
AlfredEpict July 20, 2017
wh0cd481897 bupropion hcl Rimonabant
CharlesDew July 21, 2017
wh0cd453268 antabuse buy baclofen online view site where to buy generic cialis online advair tadalafil buy celebrex seroquel
Kennethked July 22, 2017
wh0cd498116 order zovirax online using mastercard propranolol medicine naltrexone prices
CharlesDew July 22, 2017
wh0cd718532 augmentin tabs diclofenac INDOCIN ONLINE
BennyBah July 23, 2017
wh0cd175593 bentyl price prednisone online ACYCLOVIR 800MG
Tracyplumb July 25, 2017
wh0cd331101 herbolax buy v-gel prevacid serophene where can i buy vitamin c cream quibron-t online confido clarinex
Kennethked July 26, 2017
wh0cd134578 suprax baclofen online trazodone Buy Provera Online buy propecia
CharlesDew July 26, 2017
wh0cd824471 cephalexin 500 mg capsules home erythromycin online revia 50 mg retinol a 0.025
AlfredEpict July 27, 2017
wh0cd208060 arimidex zetia neurontin prices nolvadex
CharlesDew July 27, 2017
wh0cd281534 viagra soft anafranil generic strattera online viagra tretinoin 0.1 fluoxetine hcl 20 mg capsule celexa buy acyclovir online
BennyBah July 27, 2017
wh0cd354999 Lipitor Price Of Advair Diskus
AlfredEpict July 27, 2017
wh0cd355006 more about the author buy alesse online resources namenda starter kit maxalt finpecia protonix liquid
AlfredEpict July 28, 2017
wh0cd869323 Wellbutrin SR
Kennethked July 29, 2017
wh0cd665128 how to get viagra Buy Dapoxetine
BennyBah July 29, 2017
wh0cd371233 viagra soft 100mg zetia hydrochlorothiazide hydrochlorothiazide lisinopril buy cafergot online permethrin topical cream over counter
CharlesDew July 29, 2017
wh0cd591653 sinemet generic amaryl 4mg nootropil online micronase website
MichaelWhemn July 29, 2017
wh0cd669844 Purchase Tadalafil metformin
EugeneFapse July 29, 2017
wh0cd53433 buy valtrex indocin explained here bentyl buy advair online tetracycline orders without a prescription where can i buy nolvadex online doxycycline hyclate 100mg
Kennethked July 30, 2017
wh0cd930404 cymbalta cost
BennyBah July 31, 2017
wh0cd211891 Yasmin
BennyBah July 31, 2017
wh0cd579263 indinavir triphala zaditor flovent
BennyBah August 1, 2017
wh0cd652736 lipator Bentyl Over The Counter robaxin online
CharlesDew August 1, 2017
wh0cd799677 lisinopril Tretinoin Cream 0.1 Yasmin
Kennethked August 3, 2017
wh0cd640347 tetracycline buy albenza online synthroid revia cheap tadalafil online
Aaronbuh August 3, 2017
wh0cd437027 baclofen tablets clomid without script Motilium
CharlesDew August 3, 2017
wh0cd889391 viagra cost
CharlesDew August 3, 2017
wh0cd962866 propranolol neurontin azithromycin purchase valtrex online motilium prednisolone albuterol hfa inhaler
Kennethked August 4, 2017
wh0cd905622 bentyl 20 mg cialis pills valtrex tablets advair
CharlesDew August 4, 2017
wh0cd391295 Valacyclovir buy mobic motrin VIAGRA SALE
jianbin0805 August 5, 2017
jianbin0805
oakley sunglasses wholesale
converse shoes
mulberry outlet store
ralph lauren outlet
polo ralph lauren
replica watches
canada goose outlet
valentino outlet
cheap ray bans
ugg boots for women,ugg boots,ugg boots outlet,ugg boots on sale,ugg boots clearance,ugg boots for men,ugg boots for kids,ugg boots clearance sale women,ugg boots clearance outlet
ray ban sunglasses
kobe 9
mulberry bags
michael kors outlet
louis vuitton handbags
ralph lauren pas cher
oakley sunglasses
ray-ban sunglasses
coach outlet online
nfl jersey wholesale
hermes outlet
kate spade outlet
replica watches
christian louboutin outlet
coach factory outlet
thomas sabo
tory burch outlet
swarovski crystal
nike trainers
ralph lauren polo
ugg boots clearance,ugg boots,ugg boots outlet,ugg boots for women,ugg boots on sale,ugg boots for men,ugg boots for kids,ugg boots clearance sale women,ugg boots clearance outlet
michael kors wallets
michael kors outlet
polo ralph lauren
michael kors handbags
pandora outlet
michael kors
air max 90
oakley sunglasses
michael kors outlet
michael kors outlet
coach outlet
vans shoes
cheap jordans
adidas trainers
canada goose jackets
fitflops sale clearance
louis vuitton outlet
ralph lauren sale
nike store
oakley sunglasses
mac cosmetics
tory burch outlet
canada goose outlet
louis vuitton outlet
adidas uk
ray bans
nike free 5
cheap jordans
oakley sunglasses
pandora jewelry
pandora charms
mulberry handbags
chrome hearts
nike store uk
cheap nfl jerseys
hollister clothing
louis vuitton outlet
polo outlet
ray bans
ferragamo shoes
oakley sunglasses
christian louboutin outlet
cheap nfl jerseys
true religion outlet
ferragamo shoes
cheap snapbacks
gucci outlet
air max 90
louis vuitton outlet
michael kors outlet
asics
fitflops sale clearance
coach factory outlet
louis vuitton handbags
michael kors outlet
nike shoes
lebron james shoes
birkenstock sandals
oakley sunglasses
pandora jewelry
prada outlet
coach outlet online
swarovski crystal
canada goose jackets
louis vuitton
canada goose jackets
ralph lauren polo
air max uk
ralph lauren uk
puma outlet
prada shoes
coach outlet online
polo shirts
hollister clothing
mulberry outlet
michael kors outlet
ray ban sunglasses
pandora jewelry
oakley sunglasses wholesale
canada goose outlet
juicy couture outlet
ed hardy clothing
christian louboutin outlet
louis vuitton outlet
oakley sunglasses
louis vuitton outlet
kate spade outlet
hermes belt
cheap nhl jerseys
michael kors outlet
true religion uk
jordan shoes
christian louboutin outlet
coach outlet canada
air max 90
ralph lauren uk
swarovski outlet
adidas shoes
kate spade outlet
christian louboutin shoes
ugg outlet,uggs outlet,ugg outlet online clearance,ugg outlet store,ugg outlet coupons,ugg outlet boots,ugg outlet online store,ugg outlet sale
true religion jeans
coach outlet store online
reebok outlet store
swarovski crystal
ugg boots,ugg boots outlet,ugg boots for women,ugg boots on sale,ugg boots clearance,ugg boots for men,ugg boots for kids,ugg boots clearance sale women,ugg boots clearance outlet
ralph lauren outlet
michael kors outlet online
canada goose outlet
polo ralph lauren
mizuno running shoes
ray ban sunglasses
burberry outlet
kobe bryant shoes
rolex watches
cheap uggs outlet,cheap uggs for sale,cheap ugg boots,cheap uggs for kids,cheap uggs for women,cheap uggs bailey bow,cheap uggs china,cheap uggs for men,cheap uggs for girls,cheap uggs boots for women
tory burch outlet
oakley sunglasses
true religion jeans
futbol baratas
rolex watches
ferragamo shoes
burberry outlet
ferragamo outlet
cheap jordans
canada goose jackets
michael kors handbags
michael kors outlet
louis vuitton outlet clearance
oakley sunglasses
air max 1
michael kors outlet
nike huarache
soccer shoes
nike outlet store
nike air force 1
ray ban sunglasses
nike outlet
ray ban sunglasses
swarovski crystal
canada goose outlet
coach outlet online
mont blanc pens
coach factory outlet
coach handbags
borse louis vuitton
air jordan 4
nike shoes
oakley sunglasses wholesale
salomon shoes
mbt shoes
gucci outlet
gucci handbags
gucci outlet
ugg boots
bottega veneta outlet
kate spade handbags
tods outlet
mulberry sale
true religion jeans
michael kors outlet
louis vuitton outlet
coach outlet
fitflops sale clearance
ugg outlet clearance,ugg outlet online clearance,ugg outlet,uggs outlet,ugg outlet store,ugg outlet coupons,ugg outlet boots,ugg outlet online store,ugg outlet sale
longchamp outlet
polo outlet
lacoste polo shirts
tory burch shoes
polo outlet
ugg boots,ugg boots outlet,cheap uggs boots,ugg boots for women,ugg boots on sale,ugg boots clearance,ugg boots clearance sale women,ugg boots clearance outlet,ugg boots for men,ugg boots for kids
nike air max 2015
polo outlet
coach outlet online
soccer jerseys
fitflops
oakley sunglasses
fitflops shoes
kate spade handbags
nike shoes
coach outlet online
coach outlet
adidas nmd
supra shoes
michael kors outlet online
louis vuitton
ray ban sunglasses
ray ban sunglasses
true religion jeans
oakley sunglasses
pandora outlet
air max 90
rolex watches for sale
nike outlet store
cartier outlet
hermes birkin
oakley sunglasses
longchamp handbags
nike roshe one
burberry outlet
mulberry handbags
louis vuitton outlet clearance
canada goose outlet
louis vuitton outlet
nfl jerseys wholesale
coach outlet
coach outlet online
reebok trainers
true religion jeans
michael kors outlet
ugg outlet,ugg outlet store,uggs outlet,ugg outlet online clearance,ugg outlet coupons,ugg outlet boots,ugg outlet online store,ugg outlet sale
Nike Free shoes
michael kors outlet
michael kors outlet clearance
cartier outlet
canada goose
true religion jeans
ferragamo outlet
canada goose outlet
fred perry polo shirts
longchamp outlet
basketball shoes
cheap mlb jerseys
coach outlet online
cheap jordans
louis vuitton handbags
oakley sunglasses
oakley sunglasses
yeezy boost
nike trainers
ray ban sunglasses
nike air max
ray ban sunglasses
instyler ionic styler
true religion jeans
michael kors
fitflops
canada goose outlet
michael kors outlet
oakley sunglasses
cheap snapbacks
oakley sunglasses
christian louboutin shoes
coach outlet online
ysl outlet
nike foamposite
ray ban sunglasses
oakley sunglasses
louis vuitton outlet stores
rolex watches
oakley sunglasses
coach outlet
longchamp bags
fitflops shoes
giuseppe zanotti outlet
louis vuitton outlet
links of london
nike blazer pas cher
polo ralph lauren
tory burch outlet
new balance shoes
ray ban sunglasses
nba jerseys
yeezy boost 350
louis vuitton outlet
soccer jerseys
louis vuitton outlet
polo outlet
coach outlet
coach outlet online
marc jacobs outlet
ugg outlet,ugg outlet sale,uggs outlet,ugg outlet online clearance,ugg outlet store,ugg outlet coupons,ugg outlet boots,ugg outlet online store
louis vuitton handbags
louis vuitton outlet
cazal sunglasses
coach outlet
canada goose jackets
fitflops outlet
michael kors outlet clearance
ferragamo outlet
ralph lauren polo shirts
ray ban sunglasses
coach factory outlet
ferragamo shoes
adidas outlet store
nike roshe run
mcm outlet
longchamp handbags
nfl jersey wholesale
true religion outlet
true religion jeans
canada goose outlet
rolex watches
nike roshe
hollister clothing
ralph lauren polo
prada sunglasses
coach outlet
cartier watches
cheap oakley sunglasses
adidas nmd runner
michael kors
c
longchamp handbags
adidas shoes
michael kors outlet online
lebron james shoes
michael kors handbags
nike shoes
pandora jewelry
cheap jordan shoes
oakley sunglasses
nike air max
louis vuitton pas cher
mlb jerseys wholesale
burberry outlet
cartier watches
herve leger outlet
michael kors
michael kors handbags
michael kors handbags
nike air max
borse gucci
rolex watches
jordan shoes
coach outlet online
tory burch outlet
true religion jeans
rolex outlet
true religion outlet
true religion jeans
swarovski outlet
lacoste soldes
michael kors bags
chrome hearts outlet
ugg outlet
rolex watches
ugg outlet,ugg outlet clearance,uggs outlet,ugg outlet online clearance,ugg outlet store,ugg outlet online store,ugg outlet sale,ugg outlet coupons,ugg outlet boots
louis vuitton
michael kors handbags
hermes bags
adidas shoes
christian louboutin outlet
coach outlet
longchamp outlet
mbt shoes outlet
coach outlet
michael kors
polo ralph lauren
omega watches
adidas outlet
mbt shoes
louis vuitton
ray ban sunglasses
coach outlet
longchamp bags
coach outlet
cheap jordans
jordan shoes
mulberry handbags
Basketball Shoes
michael kors outlet
los angeles lakers jerseys
mulberry bags
christian louboutin online
coach outlet online
cheap jerseys wholesale
nike air max
polo outlet
michael kors factory outlet
louis vuitton outlet online
ray ban sunglasses
michael kors outlet
ecco shoes
coach outlet clearance
oakley sunglasses
cartier watches
fitflops sale
michael kors outlet
canada goose outlet
louis vuitton outlet
kobe shoes
hollister clothing
polo ralph lauren
gucci outlet
ugg outlet
cleveland cavaliers jersey
cheap nba jerseys
kevin durant shoes
ralph lauren polo
coach outlet
prada handbags
michael kors outlet online
polo ralph lauren
hollister clothing
christian louboutin uk
mulberry handbags
air max uk
nike huarache
birkenstock outlet
pandora charms
football shirts
adidas wings
michael kors outlet
louis vuitton outlet stores
ray ban sunglasses
canada goose outlet
montblanc pens
coach factory outlet
ugg outlet
christian louboutin outlet
michael kors handbags
ralph lauren polo
AlfredEpict August 5, 2017
wh0cd758665 cialis online pharmacy buy toradol online cardura 2mg
CharlesDew August 5, 2017
wh0cd464770 vardenafil florinef prozac
MichaelWhemn August 6, 2017
wh0cd437031 seroquel quetiapine elocon cream for sale resource allopurinol
CharlesDew August 6, 2017
wh0cd921844 Diclofenac 75mg Generic Bentyl celebrex generic
CharlesDew August 8, 2017
wh0cd248181 wellbutrin paxil wellbutrin order online
AlfredEpict August 9, 2017
wh0cd819751 colchicine generic triamterene
AlfredEpict August 19, 2017
wh0cd689025 methotrexate erythromycin 500 lasix buy buy amoxil propecia seroquel 200 zyprexa olanzapine generic effexor cost
CharlesDew August 20, 2017
wh0cd43993 can i buy clomid online synthroid sildenafil vpxl without prescription furosemide 40 mg diuretic prozac
BennyBah August 22, 2017
wh0cd15369 zaditor buy zyrtec roxithromycin without prescription
CharlesDew August 22, 2017
wh0cd999164 pepcid ac liquid lioresal diovan florinef trileptal diabecon online meclizine aricept generic equivalent
Kennethked August 23, 2017
wh0cd252021 zocor 20 augmentin nolvadex arimidex for sale cystone without prescription amitriptyline bupropion generic yasmin
BennyBah August 23, 2017
wh0cd280641 generic vermox strattera levaquin online generic eurax buy robaxin
CharlesDew August 23, 2017
wh0cd178549 bentyl tablets doxycycline acne Bentyl 10 Mg
CharlesDew August 23, 2017
wh0cd676631 motrin 400mg Augmentin 875 Mg
BennyBah August 24, 2017
wh0cd178544 Generic Clomid Diclofenac 50 Mg
Aaronbuh August 24, 2017
wh0cd16254 torsemide over the counter levaquin 500 mg buy inderal
Aaronbuh August 24, 2017
wh0cd44876 clomid women
Aaronbuh August 24, 2017
wh0cd587820 Clomid 50 Mg motrin 800
BennyBah August 24, 2017
wh0cd619388 buy lexapro online
Kennethked August 26, 2017
wh0cd929513 nexium otc
AlfredEpict August 27, 2017
wh0cd782571 Effexor Generic
Aaronbuh August 27, 2017
wh0cd310148 buy tamoxifen how much does benicar cost albenza generic
Aaronbuh August 27, 2017
wh0cd383623 metformin er
CharlesDew August 27, 2017
wh0cd827426 BUY GENERIC LEXAPRO buy vpxl
Aaronbuh August 28, 2017
wh0cd32485 metformin tabs
Aaronbuh August 28, 2017
wh0cd722369 AZITHROMYCIN ONLINE PHARMACY REVIEWS
Kennethked August 29, 2017
wh0cd331116 albuterol Buy Levitra Online
Aaronbuh August 29, 2017
wh0cd150807 viaga
Aaronbuh August 29, 2017
wh0cd269133 generic crestor
CharlesDew August 30, 2017
wh0cd268250 cheap sildenafil citrate
CharlesDew August 30, 2017
wh0cd300714 Generic Wellbutrin strattera online
CharlesDew August 31, 2017
wh0cd668083 generic for cipralex buy sildalis amoxil buy
CharlesDew August 31, 2017
wh0cd51663 Lipitor Cost
CharlesDew August 31, 2017
wh0cd239632 buy nexium albendazoleoverthecounter.com
Aaronbuh September 1, 2017
cialis over the counter
Aaronbuh September 1, 2017
buy cialis 20mg
Aaronbuh September 1, 2017
buy cialis
BrettActib September 1, 2017
buy cialis online
Kennethked September 1, 2017
buy cialis online
AlfredEpict September 1, 2017
buy cialis online
CharlesDew September 1, 2017
buy cialis online
CharlesDew September 1, 2017
Cialis Over The Counter
BennyBah September 1, 2017
buy cialis online
Stewartbut September 1, 2017
buy cialis
BrettActib September 1, 2017
buy cialis online
BillyExcit September 1, 2017
online cialis prescription
CharlesDew September 1, 2017
buy cialis over the counter
CharlesDew September 1, 2017
buy cialis online
CharlesDew September 1, 2017
Buy Cialis Online
Aaronbuh September 1, 2017
BUY CIALIS
Kennethked September 1, 2017
Cialis Best Price
AlfredEpict September 1, 2017
buy cialis over the counter
Kennethked September 1, 2017
cialis from canada
CharlesDew September 1, 2017
CIALIS PRICE
BennyBah September 1, 2017
Buy Cialis Online
CharlesDew September 1, 2017
buy cialis from canada
BennyBah September 1, 2017
example here
Kennethked September 1, 2017
cialis
Aaronbuh September 1, 2017
crestor 10 mg
Aaronbuh September 1, 2017
Generic Paxil
AlfredEpict September 2, 2017
wh0cd98580 medrol buy lipitor
BennyBah September 2, 2017
wh0cd319003 wellbutrin prescription buy vpxl cheap retin a micro
Kennethked September 2, 2017
wh0cd392482 purchase nolvadex methotrexate price tadalis sx
Kennethked September 2, 2017
wh0cd106254 generic cialis
Kennethked September 3, 2017
wh0cd253200 prednisolone tablet zetia 10 mg cost synthroid
Aaronbuh September 3, 2017
wh0cd620578 cymbalta medication
Aaronbuh September 3, 2017
wh0cd1869645 advair
Kennethked September 3, 2017
wh0cd143433 prozac buy
CharlesDew September 3, 2017
wh0cd620572 tretinoin cream buy revia buy yasmin birth control pills
CharlesDew September 3, 2017
wh0cd1575741 cephalexin 500mg
CharlesDew September 4, 2017
wh0cd1943106 lisinopril 5mg tab adalat
CharlesDew September 4, 2017
wh0cd2090057 best site to buy viagra online
CharlesDew September 4, 2017
wh0cd620570 generic seroquel
AlfredEpict September 4, 2017
wh0cd987943 retin a buy online lasix
MichaelWhemn September 4, 2017
wh0cd2457415 elimite metformin
CharlesDew September 4, 2017
wh0cd2163539 ventolin medrol cephalexin 500mg
Kennethked September 5, 2017
wh0cd1208359 ventolin order yasmin birth control pills
MichaelWhemn September 5, 2017
wh0cd1355330 viagra no prescription
MichaelWhemn September 5, 2017
wh0cd3045215 where can i buy amoxocillin
MichaelWhemn September 5, 2017
wh0cd3412581 buy cymbalta wellbutrin
CharlesDew September 6, 2017
wh0cd3265657 clomid
Johnfrala September 6, 2017
easy payday loan
CharlesDew September 6, 2017
wh0cd3633016 acyclovir no prescription
CharlesDew September 7, 2017
wh0cd3926905 sildenafil citrate 100mg pills
MichaelWhemn September 7, 2017
wh0cd3045248 sildenafil
CharlesDew September 7, 2017
wh0cd4220810 azithromycin eurax avana
CharlesDew September 7, 2017
wh0cd4441227 click this link
BrettActib September 7, 2017
wh0cd4514714 best site to buy viagra online
CharlesDew September 7, 2017
wh0cd2530901 tadalis sx online tadalafil buy
CharlesDew September 8, 2017
wh0cd3192164 generic advair online metformin 850 propecia
BrettActib September 8, 2017
wh0cd5396392 prednisone buy lisinopril buy cytotec
Aaronbuh September 8, 2017
wh0cd4882083 cialis pharmacy
Aaronbuh September 8, 2017
wh0cd4955567 buy cephalexin
BrettActib September 8, 2017
wh0cd5616820 renova tretinoin cream 0.02 purchase seroquel generic albendazole online
AlfredEpict September 9, 2017
wh0cd3559568 amoxicillin
CharlesDew September 9, 2017
wh0cd4294285 buy viagra advair
CharlesDew September 9, 2017
wh0cd5984205 buy clomid
AlfredEpict September 10, 2017
wh0cd3706516 buy abilify online
BillyExcit September 10, 2017
wh0cd5910701 amoxil
MichaelWhemn September 10, 2017
wh0cd6939361 sildenafil citrate tablets 100 mg
BennyBah September 10, 2017
wh0cd131038 how to buy propecia online
Aaronbuh September 10, 2017
wh0cd7380235 buy nexium buy advair viagra
CharlesDew September 11, 2017
wh0cd6645458 i found it elocon
Kennethked September 11, 2017
wh0cd4514707
Aaronbuh September 11, 2017
wh0cd6939358 sildenafil
Mikefrala September 11, 2017
write my paper
BennyBah September 11, 2017
wh0cd4882091 sildenafil
MichaelWhemn September 11, 2017
wh0cd6204631 stromectol viagra for sale
CharlesDew September 11, 2017
wh0cd5469890 stromectol online fluoxetine
AlfredEpict September 11, 2017
wh0cd4661682 lasix
MichaelWhemn September 11, 2017
wh0cd6351577 more bonuses
CharlesDew September 12, 2017
wh0cd7527155 generic cialis ampicillin 250mg
AlfredEpict September 12, 2017
wh0cd5176003 retin-a cafergot
CharlesDew September 12, 2017
wh0cd7821068 40 mg levitra
CharlesDew September 12, 2017
wh0cd6204633 lasix
Mikefrala September 13, 2017
buy essay online Continue Reading
CharlesDew September 13, 2017
wh0cd8114965 adalat
Stewartbut September 13, 2017
wh0cd8702739 lisinopril
Kennethked September 13, 2017
buy elocon online revia
BrettActib September 14, 2017
buy sildenafil generic lipitor prices buy cephalexin 500mg
CharlesDew September 14, 2017
buy abilify online clonidine
Mikefrala September 15, 2017
example here writemyessay.us.com
Johnfrala September 16, 2017
online payday loans direct lenders
Johnfrala September 17, 2017
loans for bad credit
Johnfrala September 17, 2017
pay day loans
JamesBruch September 19, 2017
cash advance
JamesBruch September 20, 2017
PAYDAYLOANS.US.ORG
JamesBruch September 20, 2017
payday loans direct lenders
JamesBruch September 21, 2017
online payday loans direct lenders
JamesBruch September 21, 2017
payday loans online direct lenders
JamesBruch September 22, 2017
cash advance
JamesBruch September 23, 2017
pay for essay online
JamesBruch September 23, 2017
pay for essay online
(Please Enter the code above shown on image)