Experience Art and Design Inc. (fka EXAD)

[Skeptical]

from the 10-Q, not from me

The Company currently has 15 million Authorized shares of Blank Check Preferred stock. The Board of Directors feels it is necessary to create two classes of Preferred stock Series A and Series B. Each class shall consist of 5 million shares each. The Series A shall be used for Officers and Directors only, this class of Preferred shall have both Conversion and Voting rights attached to it. Each share of Series A Preferred shall have the Right to convert in Common stock at the rate of 1 share of Preferred converts into 40 shares of Common stock, each share of Series A Preferred shall have voting rights equal to 40 votes per share. The Series A Preferred Stock may be converted into Common Stock except to the extent that, at the time of conversion, there are a sufficient number of Authorized but unissued and unreserved shares of Common Stock available to permit conversion