Zeo ScientifiX Inc (ZEOX)

[mcjodie]

Never mind, found it:

The Company needs to increase its authorized Common Stock to accommodate the holders of outstanding warrants and convertible preferred stock. As of the Record Date, there were 111,464,984 shares of Common Stock issued and outstanding and 158,137,484 shares of Common Stock issuable upon the exercise of outstanding warrants, on a fully-diluted basis. Also, as previously disclosed by the Company on a Form 8-K filed with the Securities and Exchange Commission on March 15, 2017, on March 8, 2017, Mint Organics, Inc., a subsidiary of the Company (“Mint Organics”), issued 300 shares of Series A Preferred Stock of Mint Organics (the “Mint Organics Series A Preferred Stock”) and a warrant exercisable for up to 300,000 shares of BPSR Common Stock to two investors, Peter Taddeo and Wayne Rohrbaugh, affiliates of the Company. Starting March 8, 2018, the Mint Organics Series A Preferred Stock are convertible into shares of BPSR Common Stock, based on the $1,000 stated value of the Series A Preferred Stock divided by the average trading price of BPSR common stock for the ten trading days prior the conversion date. The Company does not currently have a sufficient amount of Common Stock available in the event all of the warrants are exercise and the Mint Organics Series A Preferred Stock are converted by the holders thereof.