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Tuesday, March 14, 2023 10:39:35 PM
Effective March 3, 2023, a change in control of Code Green Apparel Corp. (CGAC) occurred. On such date, George J. Powell III sold 100% of the 1,000 outstanding shares of Series A Preferred Stock to a single person, Logan William Rice.
In connection with the change in control, Caren Currier resigned as the Sole Director and Logan William Rice was appointed as the new Sole Director.
Logan William Rice now serves as the Chief Executive Officer and Secretary; Caren Currier now serves as Chief Financial Officer
Effective March 13, 2023, CGAC acquired two businesses engaged in Bitcoin mining. The acquired businesses were embodied by two distinct operating asset groups which are referred
to as “Operating Group 1” and “Operating Group 2.”
CGAC acquired Operating Group 1 by the issuance of 100,000 shares of Series C Preferred Stock; CGAC acquired Operating Group 2 by the issuance of 100,000 shares of Series D Preferred Stock. The acquisition transaction with respect to Operating Group 1 involved a
related party, CGAC’s Chief Executive Officer, Logan William Rice. In the acquisition of Operating Group 1, Mr. Rice was issued 33,334 shares of Series C Preferred Stock.
Until CGAC’s acquisition of Operating Group 1 and Operating Group 2, CGAC identified itself as a “shell company.” Effective with CGAC’s acquisition of Operating Group 1 and Operating Group 2 on March 13, 2023, CGAC ceased to be a “shell company.”
https://www.otcmarkets.com/otcapi/company/financial-report/361495/content
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