| EQUITY TRANSACTIONS |
NOTE 4 - EQUITY TRANSACTIONS
Preferred Stock Dividends
As of March 31, 2024 and September 30, 2023, the cumulative
arrearage of undeclared dividends for Series A Preferred stock totaled $226,756 and $205,658, respectively and $20,574 for the six months
ended March 31, 2024.
As of the date of this report, we have 200,000,000
authorized shares of preferred stock, par value $0.00001 per share, of which 7,317,403 shares were issued and outstanding. There are currently
5 series of preferred stock designated as follows:
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1,250,000 shares have been designated as Series A Preferred Stock, 512,996 of which are issued and outstanding; |
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10 shares have been designated as Series B Preferred Stock, none of which is issued and outstanding; |
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50,000,000 shares have been designated as Series C Preferred Stock, 3,133,503 of which are issued and
outstanding; and |
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10,000,000 shares have been designated Series D Preferred stock, of which 670,904 are issued and outstanding;
and |
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10,000,000 shares have been designated Series E Preferred stock, of which 3,000,000 are issued and outstanding. |
Pursuant to our Articles of Incorporation establishing our preferred stock:
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A holder of shares of the Series A Preferred Stock is entitled to the number of votes equal to the number
of shares of the Series A Preferred Stock held by such holder multiplied by one on all matters submitted to a vote of our stockholders.
Each one share of our Series A Preferred Stock shall be convertible into 100 shares of our common stock. Each holder of Series A Preferred
Stock is entitled to receive cumulative dividends at the rate of 8% of $1.00 per annum on each outstanding share of Series A Preferred
Stock then held by such holder, on a pro rata basis. |
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A holder of shares of the Series B Preferred Stock is entitled to one vote per share on all matters submitted
to a vote of our stockholders. If at least one share of Series B Preferred Stock is issued and outstanding, then the total aggregate issued
shares of Series B Preferred Stock at any given time, regardless of their number, shall have voting rights equal to two times the sum
of the total number of shares of our common stock which are issued and outstanding at the time of voting, plus the total number of shares
of any shares of our preferred stock which are issued and outstanding at the time of voting. A holder of shares of the Series B Preferred
Stock shall have no conversion rights or rights to dividends. |
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A holder of shares of the Series C Preferred Stock is entitled to the number of votes equal to the number
of shares of the Series C Preferred Stock held by such holder multiplied by 5 on all matters submitted to a vote of our stockholders.
In addition, the holders of our Series C Preferred Stock shall be entitled to receive dividends when, as and if declared by the Board
of Directors, in its sole discretion. No dividends have been declared. Finally, each one share of our Series C Preferred Stock shall be
convertible into five shares of our common stock. |
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A holder of shares of the Series D Preferred Stock is entitled to the number of votes equal to the number
of shares of the Series D Preferred Stock held by such holder multiplied by 5 on all matters submitted to a vote of our stockholders.
In addition, the holders of our Series D Preferred Stock shall be entitled to receive dividends when, as and if declared by the Board
of Directors, in its sole discretion. No dividends have been declared. Finally, each one share of our Series D Preferred Stock shall be
convertible into five shares of our common stock. |
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A holder of shares of the Series E Preferred Stock is entitled to the number of votes equal to the number
of shares of the Series E Preferred Stock held by such holder multiplied by 100 on all matters submitted to a vote of our stockholders.
In addition, the holders of our Series E Preferred Stock shall be entitled to receive dividends when, as and if declared by the Board
of Directors, in its sole discretion. No dividends have been declared. Finally, each one share of our Series E Preferred Stock shall be
convertible into 100 shares of our common stock. |
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