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REDEEMABLE PREFERRED STOCK
12 Months Ended
Dec. 30, 2023
REDEEMABLE PREFERRED STOCK  
REDEEMABLE PREFERRED STOCK

NOTE 12 – REDEEMABLE PREFERRED STOCK

 

We are authorized to issue 2,000,000 shares of Preferred Stock, par value $0.001 per share (the “Preferred Stock”). Subject to the terms of our articles of incorporation, the Board of Directors has the authority to approve the issuance of all or any of these shares of the Preferred Stock in one or more series, to determine the number of shares constituting any series and to determine any voting powers, conversion rights, dividend rights and other designations, preferences, limitations, restrictions and rights relating to such shares. While there are no current plans to issue the Preferred Stock, it was authorized in order to provide the Company with flexibility to take advantage of contingencies such as favorable acquisition opportunities.