8-Kfiled February 1, 2023, 6:59 PM ETticker EMEDCIK 0001715819
other materialconfidence highsentiment neutralmateriality 0.75
Electromedical Technologies, Inc (EMED): M&A transaction — CEO Matthew Wolfson granted voting control via Series B preferred; authorized shares increased to 2B+
Electromedical Technologies, Inc
Employment agreement gives Wolfson one Series B preferred share with voting control equal to all common shares plus 100k votes on fully diluted basis.
Wolfson retains $265k/yr CEO salary plus $100k/yr CFO salary; incentives include up to 25M common shares for annual growth and cash bonuses for quarterly growth.
Robert L. Hymers III appointed as independent director and compensation committee member for 6-month term; receives $5k monthly in common shares.
Charter amendment increases authorized capital to 2,000,000,001 shares (199M common, 1M Series A preferred, 1 Series B preferred); filed with Delaware.
On February 1, 2023, effective January 1, 2023, the Company appointed Robert L. Hymers, III, age 39, as an independent director and member of the compensation committee of the Company for a term of six months.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Robert L. Hymers III was appointed as Independent Director at Electromedical Technologies, Inc.
Action
appointed
Role
Independent Director
Exact text from the filing
On February 1, 2023, effective January 1, 2023, the Company appointed Robert L. Hymers, III, age 39, as an independent director and member of the compensation committee of the Company for a term of six months.
Electromedical Technologies, Inc: Increased authorized shares to two billion and one, including Common Stock, Series A Preferred, and Series B Preferred; par value $0.00001 per share (effective 2023-01-31).
Change
charter amendment
Effective
2023-01-31
Exact text from the filing
On January 31, 2023, the board of directors approved a resolution to amend the Company’s Certificate of Incorporation to: (1) increase the Company’s authorized shares to two billion and one shares of capital stock, including: one hundred and ninety-nine million shares designated as “Common Stock,” with a par value of $0.00001 per share; one million shares designated as “Series A Preferred Shares,” par value $0.00001 per share; and one share designated as “Series B Preferred Shares,” par value $0.00001 per share.
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