As filed with the Securities and Exchange Commission on June 30, 2006
Registration No. 333-_______
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
------------------------
PAID, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 73-1479833
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification Number)
4 Brussels Street, Worcester, MA 01610 (508-791-6710)
(Address, Including Zip Code, and Telephone Number, Including
Area Code, of Registrant's Principal Executive Offices)
--------------------------
SALES ONLINE DIRECT, INC. 2001 NON-QUALIFIED STOCK OPTION PLAN
(Full title of Plan)
--------------------------
Gregory Rotman
President
Paid, Inc.
4 Brussels Street, Worcester, MA 01610
(508) 791-6710
(Name, Address and Telephone Number,
Including Area Code, of Agent for Service)
with a copy to:
Michael A. Refolo, Esq.
Bowditch & Dewey, LLP
311 Main Street, Worcester, MA 01608
(508) 926-3425
--------------------------
CALCULATION OF REGISTRATION FEE
=========================================================================================================
Proposed Proposed
Amount Maximum Maximum Amount of
Title of Each Class of to Be Offering Price Aggregate Registration
Securities to Be Registered Registered Per Share(1) Offering Price(1) Fee
---------------------------------------------------------------------------------------------------------
Common Stock, $.001 par value 10,000,000(2) $.48 $4,800,000 $513.60
=========================================================================================================
(1) Estimated solely for purposes of calculating the registration fee pursuant
to Rule 457 under the Securities Act of 1933, on the basis of the average
of the high and low reported price of the Common Stock as reported on the
National Association of Securities Dealers OTC Bulletin Board on June 23,
2006.
(2) This Registration Statement covers 10,000,000 additional shares of common
stock of Paid, Inc. that are being registered pursuant to the Sales OnLine
Direct, Inc. 2001 Non-Qualified Stock Option Plan, as amended (the
"Amended Plan"). These shares reflect an increase of 10,000,000 shares
authorized under the Amended Plan. This Registration Statement also
relates to such presently indeterminable number of additional shares of
Common Stock are also registered hereunder as may be issued in the event
of a merger, consolidation, reorganization, recapitalization, stock
dividend, stock split or other similar change in Common Stock.
================================================================================
EXPLANATORY NOTE
This Registration Statement is filed pursuant to General Instruction E of
Form S-8 for the purpose of registering 10,000,000 additional shares of common
stock, par value $0.001 per share ("Common Stock"), of Paid, Inc., a Delaware
corporation (the "Registrant"), reserved for issuance upon the exercise of stock
options or the issuance of restricted stock awards that may be granted under the
Sales OnLine Direct, Inc. 2001 Non-Qualified Stock Option Plan. The contents of
the Registrant's previously filed Form S-8 Registration Statement No. 333-55180,
333-63268, 333-68718, 333-81290, 333-104402, 333-108529, and 333-125194 as filed
with the SEC on February 7, 2001, June 19, 2001, August 30, 2001, January 24,
2002, April 9, 2003, September 5, 2003, and May 24, 2005 respectively, are
hereby incorporated by reference in this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8. Exhibits.
Number Description
------ -----------
4.1* Specimen Common Stock Certificate (Filed as Exhibit 4.1 to the
Registrant's Registration Statement on Form SB-2 (Reg. No.
333-48542))
5** Legal Opinion of Bowditch & Dewey, LLP
23.1** Consent of Bowditch & Dewey, LLP (contained in its opinion filed as
Exhibit 5).
23.2** Consent of Carlin, Charron & Rosen, LLP
24** Power of Attorney
99.1** Sales OnLine Direct, Inc. 2001 Non-Qualified Stock Option Plan, as
amended
----------
* Incorporated by reference. In accordance with Rule 411 promulgated
pursuant to the Securities Act, reference is made to the documents
noted which have been previously filed with the Commission, and are
incorporated by reference herein.
** Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this Form S-8
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Worcester, Massachusetts, on June 30, 2006.
PAID, INC.
By: /s/ Gregory Rotman
-------------------------
Gregory Rotman, President
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Gregory Rotman and Richard Rotman, and each of
them (with full power to each of them to act alone), his true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any or all amendments (including post-effective amendments)
to this Registration Statement, and to file the same, with all exhibits thereto
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, or their
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Form S-8 Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.
Signature Title Date
--------- ----- ----
/s/ Gregory Rotman Director, President and Chief June 30, 2006
----------------------- Executive Officer (Principal
Gregory Rotman Executive Officer)
/s/ Richard Rotman Director, Chief Financial June 30, 2006
----------------------- Officer, Vice President and
Richard Rotman Treasurer (Principal Financial
Officer)
/s/ Andrew Pilaro
-----------------------
Andrew Pilaro Director June 30, 2006
EXHIBIT INDEX
Exhibit
Number
------
4.1* Specimen Common Stock Certificate (Filed as Exhibit 4.1 to the
Registrant's Registration Statement on Form SB-2 (Reg. No.
333-48542))
5** Legal Opinion of Bowditch & Dewey, LLP
23.1** Consent of Bowditch & Dewey, LLP (contained in its opinion
filed as Exhibit 5)
23.2** Consent of Carlin, Charron & Rosen, LLP
24** Power of Attorney
99.1** Sales OnLine Direct, Inc. 2001 Non-Qualified Stock Option
Plan, as amended
----------
* Incorporated by reference. In accordance with Rule 411 promulgated
pursuant to the Securities Act, reference is made to the documents noted
which have been previously filed with the Commission, and are incorporated
by reference herein.
** Filed herewith.