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Replies to post #2851 on Tiderock Companies Inc (TDRK)
trademax42
04/29/24 9:04 AM
#2852 RE: eur06 #2851
Note 7 – Subsequent Events As of February 15, 2024, the company has entered into a memorandum of understanding with MTAG Composites, LTD to acquire 90% of MTAG is £6.75M GBP (approximately $8.44M USD). The payment structure includes a promissory note of $1,250,000 USD, the issuance of 625,000 Series D Preferred Shares, and a reserve portion of the purchase price payable in cash and/or common stock at the Company's discretion after 12 months. New Series D Preferred shares, with a par value of $0.001, will have a stated value of $10 and can be converted into common stock at $0.20 per share, equating to 50 common shares for each share of Series D Preferred Stock.