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NOTE 10 - EQUITY TRANSACTIONS
12 Months Ended
Dec. 31, 2023
Notes  
NOTE 10 - EQUITY TRANSACTIONS

NOTE 10 – EQUITY TRANSACTIONS

 

Common Stock

 

The Company has authorized 140,000,000 shares of common stock with a par value of $0.001, and had 7,498,305 and 7,361,005 common shares issued and outstanding at December 31, 2023 and 2022, respectively.

 

 

Preferred Stock

 

The Company has authorized 20,000,000 shares of Preferred Stock. On May 20, 2022, the Company designated 1,000,000 shares of Series A Preferred Stock (“Series A”) with par value of $0.001. Each share of Series A participates in liquidation equal to common stock, is convertible into common stock at the option of the holder on a ten-for-one basis and carries no common votes unless and until converted to common stock at which time the converted shares are entitled to vote on any matter submitted to common stockholders. The Series A shares are not entitled to dividends unless and until converted to common stock at which time they would have dividend rights as common stock holders.

 

On August 24, 2022, the Company issued 450,000 shares of its Series A Preferred Stock for services rendered to the Company. The shares were valued at $20,520. This amount is included in professional fees on the Statement of Operations for the year ended December 31, 2022. The Company had 450,000 shares of Series A Preferred issued and outstanding at December 31, 2023 and December 31, 2022.

 

The Company has also designated 50,000 shares as Series D Preferred Stock (“Series D”) with par value of $0.001. Each share of Series D participates in dividends and liquidation equal to common stock, is convertible into common stock at the option of the holder on a one-for-one basis and carries 10,000 common votes on any matter submitted to common stockholder vote. The Company had 5,000 shares of Series D issued and outstanding at December 31, 2023 and December 31, 2022.