Seems to be leveling the playing field. The Ce
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Posted On: 02/25/2023 10:35:44 AM
Seems to be leveling the playing field.
The Certificate of Designation provides that the share of Preferred Stock will have 700,000,000 votes and will vote together with the outstanding shares of the Company’s common stock as a single class exclusively with respect to any proposal to amend the Company’s Articles of Incorporation to effect a reverse stock split of the Company’s common stock and to increase the number of authorized shares of common stock of the Company. The Preferred Stock will be voted, without action by the holder, on any such proposal in the same proportion, and in the same manner, as shares of common stock are voted by the common shareholders and in no other manner. The Preferred Stock otherwise has no voting rights except as otherwise required by the Nevada Revised Statutes.
The Certificate of Designation provides that the share of Preferred Stock will have 700,000,000 votes and will vote together with the outstanding shares of the Company’s common stock as a single class exclusively with respect to any proposal to amend the Company’s Articles of Incorporation to effect a reverse stock split of the Company’s common stock and to increase the number of authorized shares of common stock of the Company. The Preferred Stock will be voted, without action by the holder, on any such proposal in the same proportion, and in the same manner, as shares of common stock are voted by the common shareholders and in no other manner. The Preferred Stock otherwise has no voting rights except as otherwise required by the Nevada Revised Statutes.
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