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BTZO > SEC Filings for BTZO > Form 8-K on 9-Dec-2013All Recent SEC Filings

Show all filings for BITZIO, INC.

Form 8-K for BITZIO, INC.


9-Dec-2013

Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year


ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION

On December 3, 2013 the Registrant filed with the Nevada Secretary of State a Certificate of Designation of 999 shares of Series C Preferred Stock, which had been designated by the Registrant's Board of Directors as authorized by the Registrant's Articles of Incorporation. The holders of shares of Series C Preferred Stock will have the following rights:

? The holder of each share will have the right to cast the number of votes that equals the product obtained by dividing (a) the number of votes that the holders of all voting securities other than Series C Preferred Stock outstanding on the record date for the stockholder action are entitled to cast by (b) nine hundred ninety-eight (998), with the result that all 999 shares of Series C Preferred Stock together will have 50.1% of the voting power of the Registrant.

? In the event of a liquidation of the Registrant, the holder of each share of Series B Preferred Stock will be entitled to a liquidation preference of $.01.

? The holder will not participate in any dividend payable to the holders of the common stock on an as-converted basis.

? On November 29, 2015, each outstanding share of Series C Preferred Stock shall be deemed to have been automatically redeemed by the Corporation. No redemption price shall be payable.

On December 3, 2013 the Board of Directors sold 333 shares of Series C Preferred Stock to each of Gordon McDougall, Marilu Brassington and Hubert Blanchette for a price of $.01 per share. The three shareholders are the members of the Registrant's Board of Directors.

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