Kaya Holdings restructures preferred stock and debt; insiders gain 40% voting power

Kaya Holdings, Inc.

Director Jordi Arimany resigned Sept. 8, 2021; Mitchell Chupak appointed, receiving 100k shares annually.
CEO Frank and BMN exchanged Series C Preferred (28.89 common per share, 16.4% combined voting) for Series D Preferred giving 40% voting power on as-converted basis.
Accrued compensation ($1.176M) reduced: each holder waived ~$338k, deferred $250k to Jan. 1, 2025, removing $676k liabilities and reclassifying $500k as long-term debt.
Exchange Agreement approved by independent directors on Dec. 26, 2021.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jordi Arimany

director

KAYS · Kaya Holdings, Inc.

Effective: 2021-09-08
Successor: Mitchell Chupak
Filed: December 29, 2021, 6:59 PM ET

On December 26, 2021 our board of directors accepted the resignation of Jordi Arimany as a director of the Company effective as of September 8, 2021.

Appointed

Mitchell Chupak

director

KAYS · Kaya Holdings, Inc.

Effective: 2021-12-26
Filed: December 29, 2021, 6:59 PM ET

On December 26, 2021, our board of directors appointed Mitchell Chupak to fill the vacancy created by the resignation of Jordi Arimany.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jordi Arimany resigned as director at Kaya Holdings, Inc..

Action: resigned
Role: director

Exact text from the filing

On December 26, 2021 our board of directors accepted the resignation of Jordi Arimany as a director of the Company effective as of September 8, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mitchell Chupak was appointed as director at Kaya Holdings, Inc..

Action: appointed
Role: director

Exact text from the filing

On December 26, 2021, our board of directors appointed Mitchell Chupak to fill the vacancy created by the resignation of Jordi Arimany.

View on SEC.gov

Kaya Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001721868-21-000939

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