RENEWABLE INNOVATIONS, INC.: M&A transaction — Renewable Innovations completes merger with Nestbuilder, issues Series A Preferred, changes board

RENEWABLE INNOVATIONS, INC.

Closed merger on Dec 1, 2022: Merger Sub merged into Renewable Innovations, making it a wholly owned subsidiary of Nestbuilder.
Issued 2,155,684 shares of Series A Convertible Preferred Stock (convertible into 100 common each) representing 93% ownership.
Board changes: Thomas Grbelja and William McLeod resigned; Robert Mount and Lynn Barney appointed; Alex Aliksanyan resigned as CEO.
Restated FY2022 financials: net loss of $2,353,113, accumulated deficit of $3,532,141, with going concern uncertainty.
Company name changed to Renewable Innovations, Inc. via parent/subsidiary merger.

item 1.01 item 2.01 item 3.02 item 3.03 item 5.01 item 5.02 item 5.03 item 9.01

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

RENEWABLE INNOVATIONS, INC.: Amended and Restated Certificate of Designation for Series A Convertible Preferred Stock filed, designating 2,155,684 shares convertible into common stock with voting rights (effective 2022-12-01).

Change: charter amendment
Effective: 2022-12-01

Exact text from the filing

On December 1, 2022, we filed an Amended and Restated Certificate of Designation of the Rights, Preferences, Privileges and Restrictions of the Series A Convertible Preferred Stock of Nestbiulder.com Corp.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RENEWABLE INNOVATIONS, INC. underwent a change of control involving Robert L. Mount and Lynn Barney (closed 2022-12-01).

Action: change of control
Counterparty: Robert L. Mount and Lynn Barney
Closing: 2022-12-01

Exact text from the filing

In connection with the closing of the Merger described in Item 1.01 above, the following changes to the Board occurred on December 1, 2022 (the “Closing Date”), which will result in a change of a majority of the members of the Board

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Source: SEC EDGAR

accession 0001493152-23-020746

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