US Wireless - Soon to be Bubblr ( http://Bubblr.com )
On November 26, 2019, the company sold one (1) Special 2019 series A preferred share (one preferred share is convertible 500,000,000 shares of common stock) of the company for an agreed upon purchase price to BUBBLR LTD, an entity organized under the laws of England and Wales. The Special preferred share controls 60% of the company’s total voting rights. The issuance of the preferred share to BUBBLR LTD
. gave the controlling vote to control and govern the affairs of the company going forward.
The issuance of shares to BUBBLR LTD was completed in reliance on Rule 506 of Regulation D of the Securities Act of 1933, recognizing that these parties were all accredited investors, as defined under Rule 501 of Regulation D of the Securities Act of 1933. All securities issued were issued as restricted securities and were endorsed with a restrictive legend confirming that the securities could not be resold without registration
under the Securities Act of 1933 or an applicable exemption from the registration requirements of the Securities Act of 1933. No general solicitation or general advertising was conducted in connection with the sales of the shares.
As a result of the Securities Sales Agreement, all the former officers of company resigned their appointments. The Company has appointed Steven Saunders as the Company's Chief Executive Officer, Stephen Morris as President and Secretary, and Virginia Hay as Chief Financial Officer. Mr. Saunders and Mr. Morris have also been elected as new directors of the Company.
All SEC Filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001135264&owner=exclude&count=40