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Thursday, August 14, 2014 12:32:58 PM
Preferred Stock
The Company has authorized 4,000,000 shares of preferred stock, at $0.01 par value and 4,000,000 are issued and outstanding as of September 30, 2013. Each share of the Preferred Stock has 150 votes on all matters presented to be voted by the holders of our common stock. All 4,000,000 shares of preferred stock have been granted to our CEO & CFO on November 30, 2010 and issued on April 11, 2012 which was valued at the trading price of the common stock of $0.0095 and recorded as an expense of $38,000.
On December 17, 2013, the Company amended its Articles of Incorporation that gave the right to the holders of Preferred A shares to convert 1 share of Convertible Preferred A shares to 150 Common Shares of the Company. The holders of the Preferred A shares can convert the shares upon proper notice and approval of the Board of Directors. Presently, the holders of the Preferred A shares have not sent notice to the Board of Directors.
The Company has 4,000,000 preferred shares that can be converted subject to the limitation of the Company’s authorized shares at 1 preferred share for 150 common shares. The conversion can only take place with the approval of the Board of Directors. At June 30, 2014, the preferred shares could be converted into 600,000,000 of common shares resulting in dilution of common shareholders.
Recent SDCH News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/20/2024 01:25:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/20/2024 01:25:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/20/2024 01:25:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/20/2024 01:25:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:00:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:00:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:00:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:00:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 11:00:38 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 10:30:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:54:48 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:48:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 12:00:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/20/2024 01:30:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 12:05:39 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/07/2024 12:00:47 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 09:30:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 01:30:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 08:57:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 08:55:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 08:53:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 08:51:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 12:15:57 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 01/05/2024 01:00:19 PM
- Form SC TO-I/A - Tender offer statement by Issuer: [Amend] • Edgar (US Regulatory) • 12/28/2023 10:25:24 PM
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