secwatch.observer — SEC 8-K summary
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Issuer:     CoJax Oil & Gas Corp (CJAX)
CIK:        0001763925
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001763925-23-000002
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CoJax Oil and Gas grants 25,000 restricted shares to CEO and CFO, enters new employment agreement
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- On Jan 25, 2023, CoJax granted 25,000 restricted shares of Series A Convertible Preferred Stock to CEO Jeffrey Guzy in lieu of past-due 2022 cash compensation.
- On the same date, CoJax granted 25,000 restricted shares of Preferred Stock to CFO Wm. Barrett Wellman in lieu of past-due 2022 cash compensation.
- On Feb 14, 2023, CoJax entered a 3-year employment agreement with CEO Guzy with a base salary of $120,000 per annum, convertible to common stock at $2.00 or market price.
- The restricted shares have piggyback registration rights expiring Jan 25, 2024, and a one-year transfer restriction.
- The shares issued to Guzy and Wellman are exempt from registration under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1763925/000176392523000002/0001763925-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1763925/000176392523000002/cojax_8k_03-03-2023.htm
  HTML page:      https://secwatch.observer/filing/0001763925-23-000002

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