Nate's Food Company (NHMD)

[trader59]

Just because they didn't mention the conversion rights doesn't mean they changed it....
Here's from the agreement with JPE:


https://www.otcmarkets.com/filing/html?id=16941153&guid=qZ5-kWUojSxPB3h

And here's the description from their 10K:

Series A Preferred Stock

The Company is authorized to issue 2,000,000 shares of series A Preferred Stock at a par value of $0.0001. The Series A Preferred Stock shall have no liquidation preference over any other class of stock and there will be no dividends due or payable on the Series A Preferred Stock. The Series A Preferred Stock initially had voting rights equal to 1,000 votes for each 1 share of common stock owned. On December 18, 2022, the Company’s Board of Directors approved an increase to the Series A voting rights equal to 20,000 votes for each 1 share of common stock owned and resolved that each Series A Preferred Stock cannot convert into Common Stock unless it is approved by the Board of Directors.

https://www.otcmarkets.com/filing/html?id=16927907&guid=qZ5-kWUojSxPB3h Page F-14

So they are convertible with board approval, and I assume the board approved that agreement with JPE.

Fun fact: The board agreed to convert a mere 25000 shares of those Preferred A's into 1B shares of common stock (same page) just so they could pump the cancellation of that 1B shares while their lenders were converting.
Another fun fact: On May 31, 2022, the O/S was 553,024,616