NoHo Inc (DRNK)

[Toxic Avenger]

Common shares worthless?
Aside from the billions of diluting shares from toxic loans, Mersky has complete voting control through preferred shares and a complete lock on any company value through 2 additional preferred share classes.

Common shareholders are holding worthless shares IMHO. And getting more worthless with each toxic conversion.

https://www.otcmarkets.com/financialReportViewer?symbol=DRNK&id=172719

Series A Preferred Stock
The Board of Directors have designated 10,000,000 shares as Series A Preferred Stock. The Designation of the Series A Preferred Stock, as amended, includes voting rights whereas, for so long as any shares of the Series A Preferred Stock remain issued and outstanding, the holders thereof, voting separately as a class, shall have the right to vote on all shareholder matters with a vote equal to fifty-one percent (51%) of all the issued and outstanding capital stock of the Corporation on a fully diluted basis of the total vote on matters to which all shareholders of the Corporation are entitled to vote. The Series A Preferred Stock does not have any conversion rights or liquidation rights. As of March 31, 2017 and December 31, 2016, there are 10,000,000 shares of Series A Preferred Stock issued and outstanding, owned by David Mersky, the Company’s CEO.

Series B Preferred Stock
The Board of Directors of the Company have designated 25,000,000 shares as Series B Preferred Stock. The Designation of the Series B Preferred Stock, as amended, includes conversion rights, whereby the holders of Series B Preferred Stock shall have shall have the right to convert each share of Series B Preferred Stock into one hundred forty (140) shares of common stock of the Company. The Series B Preferred Stock has no voting rights or liquidation rights. As of March 31, 2017 and December 31, 2016, there are 21,600,000 shares of Series B Preferred Stock issued and outstanding.

Series C Preferred Stock
The Board of Directors of the Company have designated 300,000 shares as Series C Preferred Stock. The Designation of the Series C Preferred Stock, as amended, includes a liquidation preference of $10.00 per share. The Series C Preferred Stock has no voting rights and no conversion rights. As of March 31, 2017 and December 31, 2016 there are 300,000 shares of Series C Preferred Stock issued and outstanding.