secwatch.observer — SEC 8-K summary
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Issuer:     Voip-pal.com Inc (VPLM)
CIK:        0001410738
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0001493152-22-015409
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 3.02, 3.03, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VoIP-Pal creates super-voting Series A preferred for CEO, boosts authorized common stock
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- Board designated 475,000 Series A preferred shares, each carrying 1,550 votes, no dividends or liquidation rights.
- Issued all Series A shares to CEO Emil Malak at $0.10/share for $47,500 to restore his voting rights lost in April 2021.
- Board approved increase of authorized common stock from 3B to 3.5B shares, later ratified by majority stockholders.
- Capital increase will take effect at least 20 days after transmitting an information statement to non-consenting stockholders.
- Series A shares are non-transferable, non-redeemable, non-convertible; 525,000 preferred shares remain undesignated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1410738/000149315222015409/0001493152-22-015409-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1410738/000149315222015409/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-015409

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer