Thursday, October 27, 2022 8:49:37 AM
On August 23, 2022, the Board of Directors (the “Board”) of the Company authorized the issuance of fifty thousand (50,000) shares of the Series A Super Voting Preferred Convertible Stock (the “Series A Preferred”) pursuant to a Stock Purchase Agreement by and between the Company and Adam Lipson, a member of the Board of the Company, for the purchase price of Fifty Thousand Dollars ($50,000.00).
The Series A Preferred may vote on any action upon which holders of the Common Stock may vote, and they shall vote together as one class with voting rights equal to sixty percent (60%) of all of the issued and outstanding shares of Common Stock of the Company. The Series A Preferred shall automatically convert into shares of Common Stock upon the earlier of either a) the effectiveness of a Registration Statement under the Securities Act of 1933, or b) Twelve (12) months from the issuance of the Series A Preferred Stock at a ratio equal to the purchase prices per share of the Series A Preferred divided by $0.005. For more information regarding the Series A Preferred, please see Exhibit 3.1
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