secwatch.observer — SEC 8-K summary
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Issuer:     TON Strategy Co (TONX)
CIK:        0001566610
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001493152-23-005985
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verb Technology issues Series B Preferred share to CEO with 700M votes on reverse split and share increase
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- CEO Rory J. Cutaia purchased one share of Series B Preferred Stock for $5,000 cash on Feb 17, 2023.
- The share carries 700,000,000 votes, but only on proposals to increase authorized common stock and reverse stock split.
- The share votes in the same proportion as common shares voted on those matters; no other voting rights.
- No dividends, no conversion, no liquidation rights; redeemable at $5,000 at board discretion or automatically upon reverse split effectiveness.
- Issuance exempt from registration under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566610/000149315223005985/0001493152-23-005985-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566610/000149315223005985/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-005985

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