Replies to post #96058 on Imagination TV Inc. (IMTV)

[B402]

Here Miles,,,"Blank Check".....Stevie Gets to Choose..

Series A with voting privilege would keep control
and you only really need voting
Plus with steve converting toxic financing....Welll

Blank check preferred stock is a term used to describe a provision of a company's charter that permits the board of directors to issue preferred stock with rights and preferences as determined by the board without a shareholder vote. These provisions were established to streamline the offering process, and they are very often part of the charter provisions public companies. However, these provisions also give the board a tremendous amount of discretion. For this reason, they are not normally part of a venture financed company's charter.

On October 31, 2012 the Company’s Board of Directors approved the amendment of the Company’s Certificate of Incorporation to change the Company’s name to IC Punch Media, Inc. and to provide for a class of “blank check” preferred stock. The Company is authorizing five hundered million (500,000,000) shares of preferred stock, par value $.000001. The Board of Directors is expressly vested with the authority to divide any or all of the Preferred Stock into series in addition to those set forth below and to fix and determine the relative rights and preferences of the shares of each series so established, provided, however, that the rights and preferences of various series may vary only with respect to:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8916558