Coretec Group Inc (CRTG)

[iamthe walrus]

8 K The Preferred Stock is not expected to: require the payment of any dividends; include any operational covenants; or require the Company to redeem the Series C Preferred Stock

8K . In addition, it is expected that all outstanding Series C Preferred Stock will be automatically converted after a mandatory conversion event, which will be set forth in a certificate of designation that the Company would file with the Secretary of the State of Oklahoma at or before the closing of the Exchange.

From preferred stock article ..7.2.1 Redemption features
Preferred stock may or may not provide for redemption. Perpetual preferred stock does not have a redemption feature. Redeemable preferred stock may be mandatorily or contingently redeemable. The typical accounting classification for each of these types of preferred stock by the issuer is summarized in Figure FG 7-2.

https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/financing_transactio/financing_transactio_US/chapter_7_preferred__US/72_characteristics_o_US.html

Im guessing we will have to wait to see it preferred stock has many options the link above gives the options for preferred stock