4. SERIES A CONVERTIBLE PREFERRED STOCK

9 Months Ended

Sep. 30, 2021

Notes

4. SERIES A CONVERTIBLE PREFERRED STOCK

4.     SERIES A CONVERTIBLE PREFERRED STOCK

On January 4, 2021 the Company paid the December 7, 2020 dividends declared on its Series A Convertible Preferred Stock of $168,079. As of September 30, 2021, the aggregate outstanding accumulated arrearages of cumulative dividend was $38,357 or if issued in common shares, 54,024 shares.

The amortization of the increasing dividend rate preferred stock discount for the nine months ended September 30, 2021 was $2,697.