Replies to post #124416 on Progressive Care Inc (RXMD)

[DCorleone]

Increase automatic with RXMD OS Increase...
Each one (1) share of the Series A Preferred Stock shall have voting rights equal to (x) 0.019607 multiplied by the total
issued and outstanding Common Stock and Preferred Stock eligible to vote at the time of the respective vote (the
“Numerator”), divided by (y) 0.49, minus (z) the Numerator.
With respect to all matters upon which stockholders are entitled to vote or to which stockholders are entitled to give
consent, the holders of the outstanding shares of Series A Preferred Stock shall vote together with the holders of
Common Stock without regard to class, except as to those matters on which separate class voting is required by
applicable law or the Certificate of Incorporation or By-laws.
On July 11, 2014, the board of directors approved the issuance of 51 shares of the Company’s Series A Preferred Stock
to a certain employee of the Company, which is equal to 50.99% of the total voting power of all issued and
outstanding voting capital of the Company in satisfaction of $20,000 in past due debt. These issued shares of
preferred stock are outstanding as of June 30, 2019 and December 31, 2018. As of June 30, 2019 and December 31,
2018, the individual is employed by the Company.