BEMAX INC. (OTCMKTS:BMXC) Files An 8-K Other Events
Item 8.01 Other Events
retirement of 150,000,000 common shares own by the Company’s
CEO, Taiwo Aimasiko, effectively reducing the Company’s total
common shares issued and outstanding by 33.21%.
and the Company designated 50,000,000 of its authorized preferred
stock as Series “B” preferred shares. The Certificate of
Designation stated the following:
stock);
convertible at any time, and from time to time, into three (3)
shares of Common Stock one day after the first anniversary of
issuance;
dividend on the common stock, each Series “B” Preferred share
will be entitled to receive an equivalent dividend as if the
Series “B” Preferred Share had been converted into Common Stock
prior to the declaration of such dividend.
required for the creation of the Series “B” Preferred Stock or
the issuance of Series “B” Preferred Stock in exchange for the
shares of common stock exchanged therefor.
offered to retire and exchanged 150,000,000 shares of Common
Stock of the 200,000,000 owned by her for an aggregate 50,000,000
Series “B” Preferred Stock that would protect the voting power
and ability to participate in the future of the Company, while at
the same time enhance shareholders’ value. As a result of this
retirement and exchange of Common Stock for Series “B”
Preferred Stock, the Company’s issued and outstanding Common
Stock was reduced from 451,640,836 to a total of 301,640,836.
exclusion from the registration requirements of the Securities
Act of 1933, as amended or in reliance on the exemption from the
registration requirements of the Securities Act of 1933, as
amended, provided by Section 4(a)(2) of the Securities Act of
1933, as amended, as the issuance of the stock did not involve a
public offering of securities.
exchanged 150,000,000 of her common shares with the Company for
50,000,000 Series “B” preferred shares.
|
Exhibit No. Document Description
4.1 Certificate of Designation (Series B Preferred Stock,
filed with Secretary of State of Nevada on January 23, 2017. |
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. BEMAX INC. (OTCMKTS:BMXC) Recent Trading Information
BEMAX INC. (OTCMKTS:BMXC) closed its last trading session up +0.0028 at 0.0186 with 41,017 shares trading hands.
