other material
confidence high
sentiment neutral
materiality 0.80
GCAN files Series B Preferred Stock giving CEO Aitan Zacharin 51% voting control
Greater Cannabis Company, Inc.
- Created 1,000 Series B Convertible Preferred Shares with 51% total voting power.
- Issued to CEO Aitan Zacharin in exchange for waiving $20,000 in accrued unpaid compensation.
- Each Series B share converts into 100,000 common shares, subject to anti-dilution adjustments.
- Series B has no dividend rights; liquidation preference of $0.001 per share.
- Super-voting rights terminate if converted or transferred to a third party.