Sunandan Ray, Innocap, Inc.'s Chief Executive Officer and a director of the company, recently acquired 125,692,224 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on August 13, 2021. Ray now owns 322,086,324 shares of the company. Ray operates out of Llyod Harbor, NY. Some additional info was provided as follows:
On August 13, 2021, Mr. Ray was issued 125,692,224 shares of the Issuer's common stock pursuant to the conversion of 19,200 shares of Series B Preferred. Each share of Series B Preferred is convertible into six thousand five hundred forty-seven shares of Common Stock of the Issuer. The holders of the Series B Preferred shall vote together with the holders of the Issuer' s Common Stock on an as converted basis on each matter submitted to a vote of holders of Common Stock. The Series B Preferred shares are convertible for no additional consideration at the election of the holder. The Preferred Stock is only convertible upon the Company having the authorized shares available for conversion.
Mr. Ray is the principal and sole owner of Frangipani Trade Services, Inc.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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