AiAdvertising issues Series K preferred stock with 51% voting power to CEO for services

AiAdvertising, Inc.

Filed Certificate of Designation for Series K Preferred Stock, designating 1,000 shares.
Issued all 1,000 Series K shares to CEO Gerard Hug for past services rendered.
Series K carries 51% of total voting power; no conversion rights, dividends, or liquidation preference.
Auto-redeemed at $0.001 per share on earliest of: 60 days, CEO departure, or exchange listing condition.
No ticker symbol listed; shares trade on OTC markets under symbol AIAD (not explicitly stated in filing).

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

AiAdvertising, Inc.: Filed Certificate of Designation creating Series K Preferred Stock with 51% voting power for CEO (effective 2024-03-21).

Change: charter amendment
Effective: 2024-03-21

Exact text from the filing

On March 21, 2024, AiAdvertising, Inc. (the “Company”) filed a Certificate of Designation of Preferences, Rights and Limitations of Series K Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Nevada, and issued 1,000 shares of Series K Preferred Stock to Gerard Hug, the Company’s chief executive officer, for services rendered.

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Source: SEC EDGAR

accession 0001213900-24-025585

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