secwatch.observer — SEC 8-K summary
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Issuer:     InnovaQor, Inc. (—)
CIK:        0001102942
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001493152-23-018166
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 5.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

InnovaQor CEO exits; Darrell Peterson named Interim CEO; new preferred stock issuance
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- CEO Sharon Hollis departed May 14; Darrell Peterson appointed Interim President/CEO at $10,000/month salary.
- Board expanded to 4; Gerard Dab elected Chairman/Secretary; Francisco Roca III and Peterson join board.
- Company sold 300 shares of Series D Preferred Stock to three insiders for $30,000 total proceeds.
- Series D carries monthly dividends based on gross sales thresholds (5% above $500k, 10% above $1M, 2.5% above $2M).
- Series D ranks senior to common but junior to existing Series A-1, B-1, C-1 preferred; not convertible.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102942/000149315223018166/0001493152-23-018166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102942/000149315223018166/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-018166

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