GBT Technologies issues Series I Preferred convertible into 10B shares under amended JV

GBT Technologies Inc.

GBT contributes all IP to GBT Tokenize and issues 1,000 shares of Series I Preferred, stated value $35K/share.
Series I Preferred converts at $0.0035/share; full conversion yields 10 billion common shares, massive potential dilution.
GBT pledges 50% stake in GBT Tokenize and 100% of subsidiary Greenwich to Magic as security.
Prior contributions: 166M common shares valued at ~$50K; JV had impairment charges of $5.5M (2020) and $15.4M (2021).
Magic previously funded $250K to GBT Tokenize; amended JV restates prior agreements.

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