Worldwide NFT Inc (WNFT)

[Chummingtoamerica]

Nevermind about the Calasse shares. I found them.

I'm no expert but yes, I agree that these shares may possibly be canceled at some point. They are controlling shares not currently converted to common and with no response from Mr Calasse about his controlling/voting shares, George may be able to show a court that the owner of them has no interest in the potential merging company or whatever George decides to do with GOFF and on that basis a court may say they are canceled. Till then, they are buried in George's Preferred A shares and control stays where he puts it.




"Our Board of Directors by resolution may authorize the issuance of up to 100 million shares of preferred stock in one or more series with such limitations and restrictions as it may determine, in its sole discretion, with no further authorization by security holders required for the issuance of such shares. The Board may determine the specific terms of the preferred stock, including designations; preferences; conversions rights; cumulative, relative; participating; and optional or other rights, including voting rights; qualifications; limitations; or restrictions of the preferred stock.



The issuance of preferred stock may adversely affect the voting power and other rights of the holders of common stock. Preferred stock may be issued quickly with terms calculated to discourage, make more difficult, delay or prevent a change in control of our company or make removal of management more difficult. As a result, the Board of Directors’ ability to issue preferred stock may discourage the potential hostile acquirer, possibly resulting in beneficial negotiations. Negotiating with an unfriendly acquirer may result in terms more favorable to us and our stockholders. Conversely, the issuance of preferred stock may adversely affect the market price of, and the voting and other rights of the holders of the common stock. On August 29, 2021 we issued 300,000 shares of Series A preferred stock to George Sharp, our President, Secretary and Treasurer."