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Posted On: 04/15/2022 3:11:03 PM
Post# of 30067
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Huge news see the 10-k
Note 9 – Subsequent Event
On March 20, 2022, the Company’s Board of Directors adopted the 2022 Amarantus and Subsidiary/Affiliates Incentive Compensation Plan and approved a second amendment of the Company’s Series A Preferred class of stock that will be convertible into common stock. 3000 Series A Preferred shares will be designated, with each 1 share representing a right to buy 0.01% (initially 13% and up to a total of 30%) of the outstanding common shares immediately prior to an uplist onto a national exchange (the Uplist), provided however that if a concurrent financing occurs with the Uplist, then the Series A conversion shall occur immediately prior to such financing. The Board created alternate provisions for conversion, the purpose of which is to attract additional highly qualified personnel and ensure further incentivization via partial conversions for the achievement of other key value enhancing corporate goals and milestones. The shares allowed to be purchased would not be saleable, at the option of the Company, for up to 9 months following the goal achievement.
Note 9 – Subsequent Event
On March 20, 2022, the Company’s Board of Directors adopted the 2022 Amarantus and Subsidiary/Affiliates Incentive Compensation Plan and approved a second amendment of the Company’s Series A Preferred class of stock that will be convertible into common stock. 3000 Series A Preferred shares will be designated, with each 1 share representing a right to buy 0.01% (initially 13% and up to a total of 30%) of the outstanding common shares immediately prior to an uplist onto a national exchange (the Uplist), provided however that if a concurrent financing occurs with the Uplist, then the Series A conversion shall occur immediately prior to such financing. The Board created alternate provisions for conversion, the purpose of which is to attract additional highly qualified personnel and ensure further incentivization via partial conversions for the achievement of other key value enhancing corporate goals and milestones. The shares allowed to be purchased would not be saleable, at the option of the Company, for up to 9 months following the goal achievement.
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