Options Media Group Holdings, Inc. (OPMG)

[mitoo]

did they just untie the hog?


Series A Preferred Stock

In June 2011, the Company closed a private placement offering with accredited investors and sold 18,600 shares of Series A Convertible Preferred Stock (“Series A”) with 100% warrant coverage (each convertible to 62,000,000 shares of common stock). This offering raised $1,686,200 in net proceeds after payment of commissions and fees to the placement agent.The Series A is convertible at $0.03 per share and the warrants are exercisable at $0.041 per share over five-years. The Series A provides for a liquidation preference, voting rights equal to the number of shares of common stock that the holder would be entitled to if the Series A were converted, and a 7% dividend per annum. Additionally, the Series A contains anti-dilution, price protection, and piggyback registration rights.