11/27/2024 | Press release | Distributed by Public on 11/27/2024 10:52
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On November 21, 2024, the Board of Directors, pursuant to its authority to create and establish provisions for new classes of preferred stock, approved the Certificate of Designation establishing a new Series D Preferred Stock and the rights, preferences and privileges thereof. The Certificate of Designation was filed with the Secretary of State of the State of Nevada on November 21, 2024 and effective the same day. Some of the material terms for the new shares of Series C Preferred Stock include: (i) the number of shares constituting Series D preferred stock shall be ten million (10,000,000) shares out of the total one hundred million preferred shares authorized by the Company, (ii) the Series D preferred shall have a par value of $0.00001 per share and shall be designated as "Series D Preferred Stock", (iii) each share of Series C preferred stock shall non-voting, (iv) Series D Preferred Stock Holders must hold their shares for a period one (1) year prior to conversion. For the full summary of the rights, powers and preferences of the Series C preferred shares please see information set forth in the Certificate of Designation attached on Exhibit 3.1 of this report and incorporated herein by reference hereto.