$UYMG , The Company shall file a registration statement with the United States Securities and Exchange Commission (the “SEC”) covering shares of the Company’s Common Stock underlying the Preferred Stock no later than 60 days following the Closing of this transaction.
The transactions qualify and meet the Internal Revenue Code requirements for a tax free reorganization, in which there is no corporate gain or loss recognized by the Company, with reference to Internal Revenue Code (IRC) sections 354 and 368. Upon the Closing, MCC will become a wholly-owned subsidiary of the Company.