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Re: chaostrader post# 21069

Monday, 10/01/2018 11:17:57 AM

Monday, October 01, 2018 11:17:57 AM

Post# of 43682
How can one defend such egregious and indefensible actions & in-actions?
Never mind the Continuous Going Concern Warnings... Looky here as to the structure of the Preferred shares (given for practically nothing) and carrying 10,000 votes each vs. 1 for each common share :

The holders of shares of Class B Preferred shall be entitled to 10,000 votes per share. The Class B Preferred Stock will have the rights to liquidation as all classes of the Common Stock of the Company. The Class B Preferred stockholders are entitled to receive non-cumulative dividends at the rate of 8% per annum, and are accrued daily. The Class B Preferred Stock shall be redeemed by the Corporation for 100% of the original purchase price plus the amount of cash dividends accrued on the earlier of 6 months from the date of issuance, or the date that the Corporation received its funding from any outside source in conjunction with a merger, reverse merger or any change of control. In the event of any liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary, the holders of the Class B Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any assets of the Corporation to the holders of the Common Stock, the amount of $.035 per share plus any and all accrued but unpaid dividends.



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