secwatch.observer — SEC 8-K summary
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Issuer:     SHARING SERVICES GLOBAL Corp (—)
CIK:        0001644488
Form:       8-K
Filed at:   2023-11-16T23:59:59+00:00
Accession:  0001493152-23-041689
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sharing Services amends Series D Preferred Stock: redemption removed, dividend set at 25% of net operating income
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- Redemption feature eliminated; company no longer required to pay $1,000 per share in cash upon holder demand.
- Annual dividend changed to 25% of net operating income, cumulative, payable in cash starting June 1, 2024.
- Amended and Restated Certificate of Designation filed with Nevada Secretary of State on November 16, 2023.
- Sole stockholder Decentralized Sharing System, Inc. approved amendment alongside the board of directors.
- Dividends accrue whether or not declared and continue to accrue even if no operating income or surplus exists.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1644488/000149315223041689/0001493152-23-041689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1644488/000149315223041689/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-041689

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