Item 3.02 - Unregistered Sales of Equity Securities
On July 27, 2022, the Company authorized the issuance of 480,000 shares Series C
Preferred Stock at $.001 per share as follows:
120,000 Series C Preferred Shares - John Matthews, CEO/CFO
120,000 Series C Preferred Shares - Martin Doane, Director
120,000 Series C Preferred Shares - Facundo Bacardi, Director
120,000 Series C Preferred Share - Kathryn Weisbeck, Director of Public
Relations/Marketing
The Series C Preferred Shares were issued on July 29, 2022
Item 5.01 - Changes in Control of Registrant
See 3.02 above
After the change of control, the percentage of voting securities of the
registrant now beneficially owned directly by the above shareholders is as
follows:
John Matthews, CEO/CFO - 13.85%
Martin Doane, Director - 13.41%
Facundo Bacardi, Director - 13.41%
Kathryn Weisbeck, Director of Public Relations/Marketing - 12.63%
The source of funds used by the above individuals was personal funds.
Item 5.03 Amendments to Articles of Incorporation or Bylaws
Pursuant to Board of Director minutes dated July 27, 2022, the Company filed a
Certificate of Designation with the State of Delaware authorizing the creation
of 750,000 Series C Preferred Stock with the following terms and rights:
A. Designation and Number. A series of the preferred stock, designation the
"Series C Preferred Stock," $0.001 par value, is hereby established. The number
of shares of the Series C Preferred Stock shall be Seven Hundred Fifty Thousand
(750,000). The rights, preferences, privileges, and restrictions granted to and
imposed on the Series C Preferred Stock are as set forth below.
B. Dividend Provisions. None
C. Conversion Rights. None
D. Preemptive Rights. None
E Voting Rights. Each share of Series C Preferred Stock shall entitle the
holder thereof to cast 5,000 votes on all matters submitted to a vote of the
stockholders of the Corporation.
Item 8.01 - Other Events
On July 27, 2022, the following individuals forgave a portion of the
compensation due to them for services rendered.
John Matthews, CEO/CFO - forgave $35,000
Martin Doane, Director - forgave $35,000
Facundo Bacardi, Director - forgave $35,000
Kathryn Weisbeck, Director of Public Relations/Marketing - forgave $35,000
Item 9.01 - Exhibits
Exhibit 4.12 - Certificate of Designation for Series C Preferred Shares filed
with the State of Delaware on July 29, 2022
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