Replies to post #142652 on TAP Real Estate Technologies Inc (RWAX)

[tdbowieknife]

It looks like with the B's Foote is limited to converting 1000 per month for 10 million common till December 31st, before that it was 500. Not sure what it is now.

On June 1, 2023, the Company amended their Certificate of Incorporation to amend the conversion terms of their Series B Preferred Stock as follows: (a) for the period beginning June 1, 2023 and ending on September 30, 2023, A Series B holder shall not have the right, whether by election, operation of law, or otherwise, to convert any shares of Series B Preferred Stock into common stock; (b) for each calendar month beginning October 2023 through June 2024, A Series B holder shall not have the right, whether by election operation of law or otherwise, to convert into common stock more than 500 shares of Series B Preferred Stock per month; and (c) for each calendar month beginning July 2024 through December 2024, A Series B holder shall not have the right, whether by election operation of law or otherwise, to convert into common stock more than 1,000 shares of Series B Preferred Stock per month.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1119190/000149315224011766/form10-k.htm

Though somebody is converting B stock...



Liquidation. Upon any liquidation, dissolution, or winding-up of the Company, whether voluntary or involuntary, the holders of Series B Preferred Stock shall be entitled to receive out of the assets, whether capital or surplus, of the Company an amount equal to the liquidation value of the Series B Preferred Stock before any distribution or payment shall be made to the holders of any junior securities, and if the assets of the Company is insufficient to pay in full such amounts, then the entire assets to be distributed to the holders of the Series B Preferred Stock shall be ratably distributed among the holders in accordance with the respective amounts that would be payable on such shares if all amounts payable thereon were paid in full.



For the three months ended March 31, 2024, there were 8,032 shares of Series B Preferred Stock converted into 80,320,000 common shares.



For the three months ended June 30, 2024, there were 3,500 shares of Series B Preferred Stock converted into 35,000,000 common shares.



For the three months ended September 30, 2024, there were 1,415 shares of Series B Preferred Stock converted into 14,150,000 common shares.



For the three months ended March 31, 2023, there were 15,984 shares of Series B Preferred Stock converted into 159,840,000 common shares.



For the three months ended June 30, 2023, there were 9,795 shares of Series B Preferred Stock converted into 97,950,000 common shares.



There was no activity in the three months ended September 30, 2023.



As of September 30, 2024, the Company has 366,928 shares of Series B Preferred Stock issued and outstanding.
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[Huggy Bear]

Con artists tend to be.... Sloppy