secwatch.observer — SEC 8-K summary
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Issuer:     Greater Cannabis Company, Inc. (GCAN)
CIK:        0001695473
Form:       8-K
Filed at:   2025-10-27T23:59:59+00:00
Accession:  0001493152-25-019751
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GCAN files Series B Preferred Stock giving CEO Aitan Zacharin 51% voting control
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1695473/000149315225019751/0001493152-25-019751-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1695473/000149315225019751/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-019751

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer