Oncolix, Inc. was incorporated in the State of Florida in June 2013. During September 2017, the name of the corporation was changed from Advanced Environmental Petroleum Producers, Inc. ("AEPP") to Oncolix, Inc. in connection with the reorganization described in the following paragraph.
On April 8, 2017, Oncolix, Inc., a private Delaware corporation ("Oncolix/DE") acquired approximately 66% of the outstanding common stock of AEPP, a public Florida corporation traded on the OTC Pink with limited or no operating activities and no indebtedness. Oncolix/DE paid $315,000 in cash to a controlling shareholder of AEPP and also paid a fee to an investment banker of $50,000 in connection with this transaction. On August 3, 2017, AEPP Merger Sub, Inc., a wholly-owned subsidiary of AEPP ("Merger Sub"), merged with Oncolix/DE, and AEPP assumed responsibility for the issuance of equity securities in exchange for the equity securities of Oncolix/DE ("Merger"). On September 28, 2017, AEPP filed an amendment with the Florida Secretary of State and changed its name to Oncolix, Inc.
The Merger was treated as a reverse acquisition of AEPP (subsequently renamed Oncolix, Inc. as noted above) by Oncolix/DE for financial accounting and reporting purposes. As such, Oncolix/DE is treated as the acquirer for accounting and financial reporting purposes while AEPP is treated as the acquired entity for accounting and financial reporting purposes. Accordingly, the financial statements included in this Form 10-K for all periods prior to August 3, 2017 are those of Oncolix/DE. Because of the acquisition of a controlling interest on April 8, 2017, the financial statements of AEPP have been consolidated with Oncolix/DE since April 2017. AEPP's assets, liabilities and results of operations for periods after April 2017 are the consolidated assets, liabilities and results of operations of Oncolix, Inc. and its wholly owned subsidiary Oncolix/DE.