OriginClear Inc (OCLN)

[Oxonius]

<< Pursuant to the Series V COD, the Company designated 3,000 shares of preferred stock as Series V. The Series V has a stated value of $100,000 per share, and holders will be entitled to receive, on a pro rata and pari passu basis, annual distribution of 25% of annual net profits of newly established, Company wholly-owned, Water On Demand subsidiaries, designated by each Holder, paid within 3 months of subsidiary’s accounting year-end. >>

Despite my Latin name, I did not know what a "pari passu" basis was...

Now I do: << A Latin term that means “on equal footing,” pari-passu is commonly used when a person or business files for bankruptcy. >>