Quarterly report pursuant to Section 13 or 15(d)

Series 3 Preferred Stock

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Series 3 Preferred Stock
3 Months Ended
Mar. 31, 2018
Series 3 Preferred Stock [Member]  
Series 3 Preferred Stock

Note 11 - Series 3 Preferred Stock

 

On February 15, 2018, the Company filed with the Secretary of State of the State of Nevada the Certificate of Designation that created the Series 3 Preferred, authorized 10,184.9752 shares of Series 3 Preferred and designated the preferences, rights and limitations of the Series 3 Preferred. The Series 3 Preferred is non-voting (except to the extent required by law). The Series 3 Preferred is convertible into the number of shares of Common Stock, determined by dividing the aggregate stated value of the Series 3 Preferred of $1,000 per share to be converted by $2.35.