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Saturday, December 14, 2019 11:05:08 AM
On August 23, 2019, Renewable Energy & Power, Inc.. (the “Company” or “RBNW”) entered into a Membership Purchase Agreement with Lust for Life Footwear, LLC (“Lust for Life”) whereby 100% of the membership interests of Lust for Life were purchased in exchange for exactly 77,789 shares of Series B Preferred Stock of the Company (the “Agreement”).
The RBNW Series A Preferred Stock hold voting rights, collectively and in their entirety, equal to exactly 65% of all voting right available at the time of any vote, including Series A Preferred Stock.
On August 26, 2019, Mr. Huss cancelled all 5,000,000 shares of the Series A Preferred and, as the sole member of the Board of Directors, issued exactly 2,500,000 shares to each of Karen Berend and David Berend for joining the Board of Directors.
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