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Monday, February 04, 2019 2:50:51 PM
On Novemb er 7 o 2017 the Board of Directors approved a Plan of Conversion whereby it is the Company's intent ("On4-Delaware") to convert its present domicile in the state of Delaware to a new corporation with the same name to domiciled and incorporated in the state of Colorado ("On4Colorado"). Each of the On4-Delaware present common and Series ooA" preferred shares would to be converted into an equal number (l for 1 ) of fully paid shares in those same stock classes of On4Colorado. In accordance with this Plan, On4 Communications, lnc.("On4-Colorado") was duly incorporated in the state of Colorado on December 15,2017 with the same nurrtber of authorized shares, being of 5 billion common shares and 30 million "Series A" preferred shares. Also on December 15,2017 Hexagon Holdings Corporation ("HHC") was incorporated in Colorado with an authorized share capital of 4 billion common shares and 20 million Series "A" preferred shares of $0.0001 par value each. The HHC Series "A" preferred shares are entitled to receive a preferential dividend of llYo annually and each preferred share is entitled to 200 votes per preferred share, together with the right to convert each one Series "A" preferred share to 200 cofirmon shares. The Plan anticipates that all of the issued and outstanding stock of the new On4 Communications, Inc. Colorado would be exchanged for an equal number (1 for 1) of shares and class in Hexagon Holdings Corporation (except that Steve Berman has indicated his intention to surrender to Treasury 1.4 billion of the common shares that he holds).
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