Zeev, Surelock.
How do you know what a floorless preferred is ? I know it seems like a stupid question to you learned people, but I am not 100% sure what your talking about.
Would this be referred to as a floorless preferred ? :
The Company has authorized 10,000,000 preferred shares, $0.001 par
value per share, to be issued in series with attributes to be determined by
the Board of Directors. A series of 2,000,000 shares of Class A Preferred
Stock has been authorized by the Board of Directors. The Class A Preferred
Stock, all of which are currently outstanding, has the following rights,
privileges and preferences:
* Each share is convertible into five shares of common
stock at a conversion price of $0.05 per share.
* Each share is accorded five votes on any matter
submitted to the stockholders of the Company.
* These shares are assignable, subject to compliance
with any applicable securities laws, rules and
regulations.
* Ownership of these shares vests on issuance, and they
are not subject to cancellation. |
