BEMAX INC. (OTCMKTS:BMXC) Files An 8-K Other EventsItem 8.01 Other Events
On June 18, 2018, the Company's Board of Directors approved and the Company designated 25,000,000 of its authorized preferred stock as Series "A" preferred shares. The Certificate of Designation stated the following:
Voting Rights: One (1) vote per share (vote along with common stock);
Conversion Rights: Each share of Series "A" Preferred is convertible at any time, and from time to time, into six (6) shares of Common Stock following 180 days anniversary of issuance;
Dividend Rights: In the event the Board of Directors declares a dividend on the common stock, each Series "A" Preferred share will be entitled to receive an equivalent dividend as if the Series "A" Preferred Share had been converted into Common Stock prior to the declaration of such dividend. In the event the Common Stock of the Company is split (reverse basis) after the date this Certificate is filed with, and approved by, the Secretary of State of Nevada, then the voting and conversion rights of the Series A Preferred Stock shall not be adjusted to reflect such reverse stock split.
Liquidation Rights: None
Under Nevada corporation law, no shareholder approval was required for the creation of the Series "A" Preferred Stock.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Document Description
4 Certificate of Designation (Series A Preferred Stock, filed with Secretary ofState of Nevada on June 18, 2018
Bemax, Inc. Exhibit…To view the full exhibit click
About BEMAX INC. (OTCMKTS:BMXC)
Bemax Inc. is a development-stage company. The Company is focused on exporting and distribution of disposable baby diapers. It exports disposable baby diapers from the United States and Canada, and distributes them in London, and South Africa. The Company also exports from manufacturers from Asia and distributes to other parts of Africa. The Company offers disposable diapers range in size from Newborn to Size six, which accommodates an over 35 pounds (lbs) child. The normal size weight ranges are approximately 10 pounds: newborn; 8 to 15 pounds: Size 1-2; 16 to 28 pounds: Size 3; 22 to 37 pounds: Size 4; 27 plus pounds: Size 5, and over 35 pounds: Size 6.