here's what was filed Preferred Stock Serie

here's what was filed

Preferred Stock

Series A Super Voting Preferred Stock . The Board of Directors designated 1,000,000 shares of Series A Super Voting Preferred Stock, par value $0.001 per shares (the “Series A Preferred Stock”), of which 1,000,000 shares are currently issued and outstanding. Each share of the Series A Preferred Stock is entitled to one hundred (100) votes on all matters to be voted upon by our stockholders. Mr. John Bordynuik, our founder and Chief of Technology, is the holder of all outstanding shares of Series A Preferred Stock.

Mr. Bordynuik was a party to a letter agreement (the “Letter Agreement”) with certain investors (the “Investors”) in our May 2012 private placement, which Letter Agreement contained certain restrictions on Mr. Bordynuik’s ability to vote his shares of Series A Preferred Stock. Prior to the filing of this Information Statement, the Letter Agreement was terminated upon the receipt of waiver/rescission notices from the requisite number of Investors required under the Letter Agreement’s terms. Upon effectiveness of the Charter Amendment, Mr. Bordynuik has agreed with us to return all his shares of Series A Preferred Stock to the Company for cancellation .

http://jbii.ir.edgar-online.com/fetchFilingFr...;Type=HTML

http://jbii.ir.edgar-online.com/fetchFilingFr...;Type=HTML

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