NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby establish a series of authorized preferred stock having a par value of $.0001 per share, which series shall consist of one million (1,000,000) shares and be designated as “Series AAA Preferred Stock,” and does hereby fix and determine the rights, references, restrictions and other matters relating to such series of preferred stock as follows:
1. Designation . The series of preferred stock shall consist of one million (1,000,000) shares designated and known as “Series AAA Preferred Stock” (hereinafter referred to as “ Series AAA Preferred Stock ”).
2. Voting Rights .
(a) Voting . With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AAA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AAA Preferred Stock owned by such holder times one hundred thousand (100,0000). (b) Class Vote . Except as otherwise required by law, holders of Common Stock, other series of Preferred issued by the Corporation, and Series AAA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.
3. Dividends . The holders of Series AAA Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Delaware Law, in its discretion, from funds legally available therefore
4. Rights on Liquidation . On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Series AAA Preferred Stock shall receive, out of assets legally available for distribution to the Company's stockholders, a ratable share in the assets of the Corporation. ***(Remember these shares are "worth 100,000X each Common Share!!)
RESOLVED, FURTHER, that the President and the Secretary of the Corporation ( ***Koos is Both !! )hereby are authorized and directed to prepare and file a Certificate of Designation of Preferences, rights and Limitations in accordance with the foregoing resolution and the provisions of Delaware law.
------------------- *** = "Value-added"
___________ As always,, the above Post is "Just My Opinion!"
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