other material
confidence high
sentiment neutral
materiality 0.80
Omnitek issues 91.7M-share warrant at $0.004 and sells 5,000 preferred shares, giving Hard Rock Holdco control
Omnitek Engineering Corp
- Omnitek sold 5,000 Series A Preferred shares for $500,000 to Hard Rock Holdco, LLC; each share carries 50,000 votes, giving the holder 250,000,000 votes and control of board elections.
- Tranche 2: additional 5,000 Series A shares for $500,000 due within 90 days of the Sept. 29, 2026 close; Series A has $100 original issue price and converts into 50,000 common shares each.
- Issued a 5-year warrant to Hawkeye Digital Inc. for 91,666,666 common shares at $0.004/share, raising $550,000; exercisable through Sept. 29, 2031, with 4.99% beneficial ownership blocker.
- Concurrent with the closings, owners of options to acquire 1,450,000 common shares cancelled all options; no stock options remain outstanding.
- Company must use best efforts within 90 days to amend articles to increase authorized common shares to cover the 91.7M warrant shares.