Preferred Share Capital Disclosure |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Notes | |
| Preferred Share Capital Disclosure | 8. Preferred Share Capital
The Company is authorized to issue 20,000,000 shares of Preferred Stock with a par value of $0.001.
The Company designated 14,000,000 shares of Series A Preferred Stock, which has no voting rights and converts to common at a 1:1 ratio and has a “Leak Out Provision” that limits the shareholder from selling more than 12.5% of their shares per quarter. As of December 31, 2025, the Company had 7,644,000 outstanding shares of series A preferred stock which were owned by 6 shareholders of record.
On July 7, 2023, the Company issued 7,644,000 shares of Series A Preferred Stock to six noteholders as settlement of their convertible notes of $252,500 and accrued interest of $209,992.
The Company designated 1,000,000 shares of Series B Preferred Stock, which has voting rights that equal two times the number of votes of all other classes of outstanding voting stock and is not convertible. As of December 31, 2025, the Company had 1,000,000 outstanding shares of series B preferred stock which were owned by 1 shareholder of record.
On October 16, 2024, the Company issued 1,000,000 shares of Series B Preferred Stock to its sole officer and director of the Company for services rendered for a value of $16,971. |