FullNet issues 50,000 preferred shares to retire $50K related-party debt

FULLNET COMMUNICATIONS INC

Issued 50,000 restricted Series A Convertible Preferred shares in exchange for $50,000 of indebtedness from a related party.
No commissions or other remuneration paid; issuance exempt under Section 4(a)(2) of the Securities Act.
Following the exchange, 618,257 shares of Series A Convertible Preferred Stock remain outstanding.

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