SUGARMADE, INC. (OTCMKTS:SGMD) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal YearItem 5.03 Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On October 10, 2018, the Stockholders of Sugarmade, Inc. (the “Company”) approved the Certificate of Amendment of Certificate of Incorporation (the “Certificate of Amendment”) to increase the authorize total number of shares of stock which the Company shall have authority from 300,000,000 shares to 2,000,000,000 shares, consisting of 1,990,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock, effective as of the date of filing with the State of Delaware.. The authorized additional shares of Common Stock will have the same rights as the presently authorized shares.
The terms of the Certificate of Amendment are set forth in the definitive Proxy Statement, dated August 31, 2018 (concurrently filed with the Securities and Exchange Commission), and are incorporated herein by reference. A copy of the Certificate of Amendment of Certificate of Incorporation is attached as Exhibit 3.1 hereto and incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
At the Company’s Special Meeting of Shareholders, held on October 10, 2018, the proposal to execute and file the Certificate of Amendment with the State of Delaware was approved by the Company’s stockholders. The Company had furnished to its stockholders a Proxy Statement dated August 31, 2018, the contents of which are incorporated herein by reference.
The Company’s Board of Directors had approved, subject to stockholder approval, the Certificate of Amendment to increase the authorized capital from 300,000,000 shares to 2,000,000,000 shares, consisting of 1,990,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock. As of August 23, 2018, the record date for stockholders entitled to notice and vote, we had 267,242,435 shares of Common Stock outstanding.
At the Special Meeting, a total of 138,542,371 shares of Common Stock were present in person or represented by proxy and entitled to vote at the Meeting, constituting a quorum. The following proposals were voted on at the Meeting, as described in greater detail in our Definitive Schedule 14A Proxy Statement filed with the Securities and Exchange Commission on August 31, 2018.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Sugarmade, Inc. Exhibit…To view the full exhibit click here
About SUGARMADE, INC. (OTCMKTS:SGMD)
Sugarmade, Inc. is engaged in the supply of products to the quick service restaurant sub-sector of the restaurant industry. The Company is a distributor of paper products derived from non-wood sources. As of June 30, 2015, the Company’s operating unit, CarryOutSupplies.com, which is a producer and wholesaler of custom printed and generic takeout supplies served more than 3,000 quick service restaurants. It conducts its operations in an industry segment, including paper and paper-based products, such as paper cups, cup lids, food containers and others. Its products also include double poly paper cups for cold beverage, yogurt cups, ice cream cups, soup containers and plastic spoons. It is a manufacturer and distributor of tree free copy and printer paper products, made from sugarcane waste (bagasse) and bamboo for home and office environments under the Sugarmade brand name. It has also acquired a minority stake in various patents and products for seasoning and spices for food items.
