Item 8.01 Other Events. On February 1, 202
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Posted On: 02/02/2021 4:04:16 PM
Item 8.01 Other Events.
On February 1, 2021, Generex Biotechnology Corporation (“GNBT”) and its majority owned public company NuGenerex Immuno-Oncology, Inc. (“NGIO”), agreed to l exchange three hundred million (300,000,000) of its NGIO common shares for one hundred thousand (100,000) shares of NGIO Series A Super Voting Preferred Stock (“NGIO Preferred Stock”). The NGIO Preferred Stock entitles the holder thereof to 3,000 votes per share, which vote along with the common stockholders on all matters put before the NGIO common stockholders. The NGIO Preferred stock have no dividend, liquidation or conversion rights and are not subject to redemption. As a result of the share cancellation described above, NGIO has 100,300,000 shares of common stock outstanding of which GNBT owns 64,153,151 shares.
On February 1, 2021, Generex Biotechnology Corporation (“GNBT”) and its majority owned public company NuGenerex Immuno-Oncology, Inc. (“NGIO”), agreed to l exchange three hundred million (300,000,000) of its NGIO common shares for one hundred thousand (100,000) shares of NGIO Series A Super Voting Preferred Stock (“NGIO Preferred Stock”). The NGIO Preferred Stock entitles the holder thereof to 3,000 votes per share, which vote along with the common stockholders on all matters put before the NGIO common stockholders. The NGIO Preferred stock have no dividend, liquidation or conversion rights and are not subject to redemption. As a result of the share cancellation described above, NGIO has 100,300,000 shares of common stock outstanding of which GNBT owns 64,153,151 shares.
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