SideChannel converts Series A Preferred after SCS revenue milestone; Sellers now own 57.6% of SDCH common

SideChannel, Inc.

SCS achieved $5.7M trailing 12-month revenue (Mar 31, 2023), exceeding $5.5M milestone.
Board approved issuance of 62,016,618 Second Tranche shares (including working capital adjustment of 2,116,618 shares).
Sellers converted 100 shares of Series A Preferred into 100 common shares on June 12, 2023.
Following conversion, Sellers hold ~57.6% of 211,587,999 outstanding common shares; no preferred remains.
Lock-up restrictions: Sellers cannot sell >20% of shares until July 2023 (12 mo.) and remainder until July 2024.

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