Coretec Group Inc (CRTG)

[iamthe walrus]

At the close of the merger or before they have to designate what they do with the 10 million Series C preferred shares ..They dont have to convert them anytime soon so we will find out more at close as to the conversion event which will be set forth ia a certificate of designation ....Coretec has 284 million now pus shares that will beadded later when Armistice gets all their shares coming to them ..

Each share of the Series C Preferred Stock is expected to be convertible into One Hundred Fifty (150) shares of Common Stock and has a stated value of $3.00. 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. Each holder of Series C Preferred Stock is expected to be entitled to cast the number of votes equal to the number of shares of Company Common Stock into which the Series C Preferred Stock held by such holder are convertible. 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.