Replies to post #22319 on JPX Global Inc (JPEX)

[tractor4sale]

HD specifically thought it was in his best interest to convert 10,000,000 Series B shares into 100,000,000 of common stock shares of JPEX…

In connection with a Settlement Agreement dated June 20, 2017 (the "Settlement Agreement"), Mr. Hovendick was awarded ownership of the Series A preferred stock in lieu of payment of a debt. On 10/14/2022, Mr. Hovendick remitted 1,000 shares of Series A preferred stock to the Company pursuant to the terms of governing documents of the Series A preferred for no consideration.
2.
On October 14, 2022, Mr. Hovendick converted 10,000,000 shares of Series B preferred stock of the Company into 100,000,000 shares of common stock of the Company. Pursuant to the governing documents of the Series B preferred, each share of Series B preferred stock of the Company is convertible into 10 shares of common stock of the Company and is entitled to vote ratably together with the Company's common stockholders on all matters upon which common stockholders may vote.