Dividend: The new class will be Series D Preferred Stock and will pay a 15% annual dividend. The dividend will be paid at a rate of 1.25% on the 15th of each month.
Redeemable: Shareholders will be able to redeem (have the Company buy back the shares) at any time. The shareholder will only be required to provide 60 days’ notice to the Company and return of the physical certificate with a medallion signature guarantee.
Tradability: If 40 or more shareholders purchase the Series D Preferred Stock, the Company will file with the
Current shareholders will be given priority to purchase the Series D Preferred Stock.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
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