HNO International reduces outstanding common shares by 82% via exchange of 360M shares for Series B Preferred

HNO International, Inc.

CEO Donald Owens exchanged 245M common shares for 245K Series B Preferred shares.
Affiliate HNO Green Fuels exchanged 115M common shares for 115K Series B Preferred shares.
Total outstanding common shares reduced from ~434M to roughly 74M, an 82% decrease.
Series B Preferred converts into common at a 1:1,000 ratio; no voting rights except on adverse changes.
Transaction was exempt from registration under Section 3(a)(9) of the Securities Act; no commissions paid.

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 0.9

HNO International, Inc.: Filed Certificate of Designation of Series B Convertible Preferred Stock designating 500,000 shares of preferred stock as Series B Preferred Stock with voting, liquidation, and conversion rights (effective 2025-01-02).

Change: charter amendment
Effective: 2025-01-02

Exact text from the filing

On January 2, 2025, in connection with the Share Exchange Agreements referenced in Item 1.01, the Company will file a Certificate of Designation of Series B Convertible Preferred Stock (the “Designation”) with the Nevada Secretary of State that has the effect of designating 500,000 shares of preferred stock, par value $0.001, as Series B Preferred Stock.

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HNO International, Inc. filing history →

Source: SEC EDGAR

accession 0001262463-25-000004

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