Visa 2007 Annual Report Download - page 71

Table of Contents
PART II
ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
There is no established public trading market for our common stock.
Holders of Our Common Stock
A list of the holdings of each class of our common stock is set forth under Item 12—"Security Ownership of Certain Beneficial Owners and
Management."
Recent Sales of Unregistered Securities
Upon our incorporation, on May 24, 2007, we issued 100 shares of our common stock to Visa International Service Association for an aggregate
subscription price of $1.00, representing a price per share of $0.01. In connection with this issuance, we relied upon the exemption from registration provided
by Section 4(2) of the Securities Act of 1933, as amended. Other than the foregoing issuance, we have not sold any unregistered securities during the previous
three years.
ITEM 6. Selected Financial Data
The following tables present selected consolidated statements of operations data for the years ended September 30, 2007, 2006 and 2005 and
consolidated balance sheet data at September 30, 2007 and 2006 for Visa U.S.A. that were derived from the audited consolidated financial statements of Visa
U.S.A. included elsewhere in this report. The selected Visa U.S.A. consolidated statements of operations data for the years ended September 30, 2004 and
2003 and the consolidated balance sheet data at September 30, 2005, 2004 and 2003 for Visa U.S.A. were derived from audited consolidated financial
statements of Visa U.S.A. not included in this report.
In October 2007, we consummated a reorganization in which Visa U.S.A., Visa International, Visa Canada and Visa U.S.A.'s majority-owned
subsidiary, Inovant, which operated the VisaNet transaction processing system and other related processing systems, became direct or indirect subsidiaries of
Visa Inc. The reorganization was accounted for as a purchase under the guidelines of SFAS No. 141, "Business Combinations," occurring on October 1, 2007,
with Visa U.S.A. deemed to be the accounting acquirer of the ownership interest in Visa Canada, Visa International and Inovant not previously held
(including Visa Europe's interest in Visa International and Inovant). The operating results of the acquired interests in Visa International and Visa Canada will
be included in the consolidated statements of operations of Visa Inc. from October 1, 2007.
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