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PREFERRED STOCKS
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
PREFERRED STOCKS

NOTE – 13 PREFERRED STOCKS

 

Preferred Stock

 

On May 22, 2023, we designated 50,000 shares of our preferred stock as Super Voting Preferred Stock. On June 21, 2024, we designated an additional 25,000 shares of our preferred stock as Super Voting Preferred Stock.

 

On September 3, 2024, we have issued 75,000 shares of the Company’s Super Voting Preferred Stock to Heather Maynard. On October 14, 2024, we have cancelled the Company’s Super Voting Preferred Stock to Heather Maynard and the 75,000 Super Voting Preferred Stocks are held in the treasury stock.

 

Voting Rights: Each share of the Company’s preferred stock entitles its holder to 1,000 votes per share and votes with the Company’s Common Stock as a single class on all matters to be voted or consented upon by the stockholders.

 

Dividend Right: The holders of the Company’s preferred stock are not entitled to any dividend rights.

 

Liquidation Right: The holders of the Company’s preferred stock are not entitled to any liquidation preference.

 

Conversion Rights: The shares of the Company preferred stock are not convertible into the Company’s common stock.

 

Redemption Rights: The Super Voting Preferred Stock is not subject to any redemption rights.

 

Other Matters: The holders of the Company’s preferred stock have no subscription or redemption privileges and are not subject to redemption. The Company’s Series Preferred Stock does not entitle its holders to preemptive rights. All the outstanding shares of the Company’s preferred stock are fully paid and non-assessable.