Capital Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Capital Stock | |
| Capital Stock | Note 3. Capital Stock
Preferred Stock
As of June 30, 2026 the Company has shares of preferred stock, par value of $, authorized. Of these, shares have been designated as Series A Super Voting Preferred Stock, all of which are issued and outstanding. Each share of Series A Super Voting Preferred Stock entitles the holder to 100 votes per share, voting together with the Common Stock as a single class. The shares of Series A Super Voting Preferred Stock are not convertible and are not redeemable. The remaining shares of preferred stock remain undesignated and available for future issuance.
Common Stock
As of June 30, 2026 the Company has shares of common stock, par value of $, authorized and shares issued and outstanding. Each share of common stock entitles the holder thereof to one vote per share. The common stock does not have cumulative voting rights.
Warrants
As of June 30, 2026, the Company has issued warrants to Andrew Weksler, its Chief Executive Officer, to purchase up to 50,000,000 shares of Common Stock at an exercise price $0.01 per share. The Warrants are exercisable at any time and expire twenty (20) years from the date of issuance. If, at the time of exercise, the shares of Common Stock underlying the Warrants are not registered under the Securities Act, the holder may exercise the Warrants on a cashless basis. The Warrants contain anti-dilution adjustments for stock splits, stock dividends, recapitalizations and similar events.
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