Bots Inc (BTZI)

[lesgetrich]

Their most recent 10-Q (2FQ22 thru 10/31/21) says the following...

On April 29, 2020, we converted 5,000,000 of OBITX, Inc., common shares owned by us into 500,000 shares of Series B Preferred stock. The conversion was according to the terms of the Series B Preferred stock and as such there was no gain or loss on the transaction. BOTS may not convert the Series B Preferred shares into common shares until 24 months have expired from the transaction.

However, it's strange that they didn't mention the following from the previous 10-K...

During the fical year ending 04-30-2021 There were no related party transactions. Subsequently, On July 6, 2021, the Company entered into a settlement agreement with Everything Blockchain , Inc. Under the settlement agreement, BOTS agreed to return 250,000 shares of Series B Preferred stock to the treasury of the OBITX, in exchange for the assignment of the $1.4 million promissory note owed by First Bitcoin Capital Corp to the Everything Blockchain Inc, along with all interest owed to date on the promissory note. In addition, Everything Blockchain transferred 20,726,120 BIT tokens to BOTS. This was a related party transaction and was conducted at arm’s length.

This was also confirmed by an 8-K issued on 7/15/21. Consequently, BTZI should still own 250,000 shares of OBTX Series B preferred shares which are convertible to 2,500,000 common shares no sooner than April 29, 2022.