OWC Pharmaceutical Research Corp (OWCP)

[Smallville]

On December 23, 2019, OWC Pharmaceutical Research Corp., filed with the Secretary of State of the State of Delaware a Certificate of Designation with respect to its Series B Convertible Preferred Stock (the “Certificate of Designation”). The Certificate of Designations designates 150,000 shares of its authorized but previously undesignated shares of preferred stock as Series B Convertible Preferred Stock, par value $0.00001 per share (the “Preferred Stock”). Each share of the Preferred Stock is convertible at the option of the holder or the Company into 1,000 shares of the Company’s Common Stock, par value $0.00001 per share (the “Common Stock”), provided that, at the time of conversion there are a sufficient number of shares of authorized but unissued shares of Common Stock that are not reserved for other purposes. With respect to the payment of dividends, redemption rights and distributions and payments upon liquidation, dissolution or winding up, the Preferred Stock will be equal in rank to the Common Stock and junior in rank to the Company’s Series A Convertible Preferred Stock and all shares of preferred capital stock of the Company that may be issued in the future, unless such preferred capital stock issued in the future is expressly junior in rank to the Preferred Stock.

In connection with the previously disclosed settlement between the Company and Ziv Turner, the former General Manager of the Company’s subsidiary, One World Cannabis Ltd, the Company will issue 43,675 Preferred Stock in satisfaction of the Company’s initial obligations under the settlement.

OK, so they're finally done with Ziv.

The total IS 150 million.

Trade carefully and don't get stuck.