Friday, August 19, 2022 2:47:29 PM
"In April 2022, the Company created a new class of Preferred Stock designated as Series A Preferred Stock (the “Series A Preferred”). The rights of the Series A Preferred are set forth in the Certificate of Designation of Rights, Preferences and Privileges of Series B Preferred Stock (the “Series A Certificate of Designation”). A total of 1,000,000 shares of Series A Preferred are authorized for issuance under the Certificate of Designation. The shares of Series A Preferred have a stated value of $0.001 per share. The Shares of Series A Preferred Stock may be converted into such number of shares of the Corporation’s Common Stock as shall be equal to approximately Ninety-Two Percent (92.00%) of the Corporation's then outstanding shares of the Corporation’s Common Stock immediately preceding the date of said conversion but after deducting five hundred (500) shares of the Company’s Common Stock from that amount."
At his whim, they can be exchanged for shares equal in number to 92% of outstanding shares- almost doubling the count. Less 500 shs ?? --funny.
Branded Legacy Secures Exclusive Extraction Partnership with One of the World's Largest Kava Distributors and Producers • BLEG • May 30, 2024 8:30 AM
ECGI Holdings, Inc. Announces $2 Million Debt-to-Equity Conversion • ECGI • May 30, 2024 8:30 AM
North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia • NBRI • May 29, 2024 9:03 AM
One World Products, Inc. Issues Shareholder Update • OWPC • May 29, 2024 8:20 AM
Green Leaf Innovations, Inc. Engages Olayinka Oyebola & Co for Two-Year Audit • GRLF • May 28, 2024 8:30 AM
HealthLynked Introduces AI-Powered Chat Function to Enhance Healthcare Accessibility • HLYK • May 28, 2024 8:00 AM