NOTE 9 – SHAREHOLDERS’ EQUITY

As of September 30, 2024 the Company was authorized to issue multiple series of preferred stock, as outlined below. There were no preferred shares issued or outstanding as of September 30, 2024.

Series A Preferred Stock: (10,000,000 shares authorized; $0.001 par value):

The Series A Preferred stock had the following rights and privileges:

·Are without voting powers on any matter presented to the common stockholders of the Company for their action or consideration. Series A stockholders are entitled to vote on matters relating to modifications, adjustments, waivers, or other changes or matters relating to Series A stock. Each Series A stock share shall have one (1) vote on matters relating to Series A stock. 

·May be subject to redemption at such time or times and at such prices determined by the Board of Directors; 

·Are entitled to receive dividends (which may be cumulative or non-cumulative) at 10% per annum payable in preference to, or in such relation to, the dividends payable on any other class or classes or series of stock; 

·May have rights upon the dissolution of, or upon any distribution of the assets of, the Corporation; 

·Are not convertible; 

·May be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary, upon the issue of any additional shares (including additional shares of such series or of any other series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any subsidiary of, any outstanding shares of the Corporation; and 

·May have such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, in each case as shall be stated in said resolution or resolutions providing for the issue of such shares of Preferred Stock.   

Series B Preferred Stock: (10,000,000 shares authorized; $0.001 par value):

The Series B Preferred stock had the following rights and privileges:

·Are entitled to vote on any matter presented to the common stockholders of the Company for their action or consideration.  Each share of Series B Preferred shall have twenty-five (25) votes.  Series B stockholders are also entitled to vote on matters relating to modifications, adjustments, waivers, or other changes or matters relating to Series B stock.  Each Series B stock share shall have one (1) vote on matters relating to Series B stock. 

·May be subject to redemption at such time or times and at such prices as determined by the Board of Directors; 

·Are not entitled to receive dividends; 

·May have such rights upon the dissolution of, or upon any distribution of the assets of, the Corporation; 

·Shall have the right to convert any or all of the Holders’ Series B stock into 25 fully paid and non-assessable shares of common stock for each share of Series B Preferred stock 

·May be entitled to the benefit of a sinking fund to be applied to the purchase or redemption of shares of such series in such amount or amounts; 

·May be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary, upon the issue of any additional shares (including additional shares of such series or of any other series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any subsidiary of, any outstanding shares of the Corporation; and 

·May have such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, in each case as shall be stated in said resolution or resolutions providing for the issue of such shares of Preferred Stock. 

Series C Preferred Stock: (2,500,000 shares authorized; $0.001 par value; face value of $0.60 per share):

The Series C Preferred stock had the following rights and privileges:

·Shall be entitled to vote on any matter presented to the common stockholders of the Company for their action or consideration.  Each share of Series C Preferred shall have one (1) vote.  Series C stockholders are also entitled to vote on matters relating to modifications, adjustments, waivers, or other changes or matters relating to Series C stock.  Each Series B stock share shall have one (1) vote on matters related to Series C stock. 

·May be subject to redemption at such time or times and at such prices as determined by the Board of Directors; 

·Are entitled to receive dividends of 10% per annum; 

·May have such rights upon the dissolution of, or upon any distribution of the assets of, the Corporation; 

·Shall have the right to convert any or all of the holders’ Series C stock into one (1) fully paid and non-assessable share of common stock for each share of Series C Preferred stock and Series C Preferred shares shall automatically convert on the one for one basis after five (5) years from the date of purchase. 

·May be entitled to the benefit of a sinking fund to be applied to the purchase or redemption of shares of such series in such amount or amounts; 

·May be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary, upon the issue of any additional shares (including additional shares of such series or of any other series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any subsidiary of, any outstanding shares of the Corporation; and 

·May have such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, in each case as shall be stated in said resolution or resolutions providing for the issue of such shares of Preferred Stock.