NEW Filing out Just now 1 min ago plus the Chill n
Post# of 1375
NEW Filing out Just now 1 min ago plus the Chill news
Axia Group, Inc (AGIJ)
----FILING----
New Preferred Stakeholder & Debt Conversion Notice To Preferred Shares
OTTAWA , Canada, August 22, 2012– Axia Group (AGIJ.PK) feels that this a material event that warrants a filing to its followers:
- The company has two classes of preferred shares B and C. See adequate disclosure for full details.
- A partial block purchase of preferred class B shares (10 Million Shares of 25 Million Authorized and Outstanding ) has been purchased off the market by an accredited investor.
- A separate and additional non related and non affiliated accredited investor has financed the company recent expansion aspirations and corporate restructuring ie DTCC matters “dtcc chill” and other general corporate affairs.
- By unanimous vote of the preferred shareholder class C shares are increased from 5,000 shares to 25,000 shares @ 10,000 to 1 Super Voting. A Nevada State filing will shortly reflect this amendment
- The accredited investor has secured this position (The Loan) through the Class “C” convertible shares (15,000 shares).
- The total amount of exposure / investment in various draws debt conversions and other instruments totals $500,000.00 (Five Hundred Thousand Dollars)
- The company has successfully negotiated a conversion of all existing debt(s) and or including all outstanding wages of its Directors, Officers, CEO “all key staff” to accept 10,000 Class C preferred shares in lieu of cash payment(s).
- The AGIJ CEO Mr. Michael Arnkvarn shall be paid $1.00 (one dollar) per year for his services as wages in AGIJ and 7,500 preferred Class C shares
- A new updated Adequate Disclosure will be filed at the end of the quarter reporting period as per OTC Markets disclosure requirements.
Definition of 'Preferred Stock'
A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock. Preferred stock generally has a dividend that must be paid out before dividends to common stockholders and the shares usually do not have voting rights.
The precise details as to the structure of preferred stock is specific to each corporation. However, the best way to think of preferred stock is as a financial instrument that has characteristics of both debt (fixed dividends) and equity (potential appreciation). Also known as "preferred shares".
'Preferred Stock'
There are certainly pros and cons when looking at preferred shares. Preferred shareholders have priority over common stockholders on earnings and assets in the event of liquidation and they have a fixed dividend (paid before common stockholders), but investors must weigh these positives against the negatives, including giving up their voting rights and less potential for appreciation.
Read more: http://www.investopedia.com/terms/p/preferred...z24JsbEamY
More updates will follow.
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