MADISON TECHNOLOGIES INC. (OTCMKTS:MDEX) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 in order to correct the Holders and the amounts issued to such Holders of the Company’s Series A Convertible Preferred Stock, shown, as corrected herein.
No other changes have been made to this Form 8-K. This Amendment No. 1 to the Form 8-K continues to speak as of the original filing date of the Form 8-K, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 8-K.
ITEM 3.02 Unregistered Sales of Equity Securities
As previously reported in the Current Report on Form 8-K filed on July 20, 2020, and in the Schedule 14F filed on July 24, 2020, effective July 14, 2020, the Board of Directors of Madison Technologies, Inc. (the “Company”) approved the creation and issuance of 100,000 shares of Series A Convertible Preferred Stock and 100 shares of Series B Super Voting Preferred Stock to the conditions precedent to closing the Acquisition Agreement with Luxurie Legs, LLC ratified on July 17, 2020, under which the Company acquired the Casa Zeta-Jones Brand License Agreement (the “License Agreement”) from Luxurie Legs, LLC (“Luxurie”).
Series A Convertible Preferred Stock
Shares of Series A Convertible Preferred Stock are convertible into shares of the Company’s Common Stock equal to 95% of the issued and outstanding shares of Common Stock post-closing, with a 9.99% conversion cap and anti-dilution rights for twenty-four (24) months.
On September 8, 2020, the Board of Directors of the Company approved the issuance of 92,999 of the 100,000 authorized shares of Series A Convertible Preferred Stock to the following Luxurie stakeholders:
|10.1||Unanimous Written Consent of the Board of Directors dated September 8, 2020|
Madison Technologies Inc. Exhibit
EX-10.1 2 ex10-1.htm EXHIBIT 10.1 ACTION BY WRITTEN CONSENT OF DIRECTORS (Nevada Revised Statutes 78.315(2)) OF MADISON TECHNOLOGIES,…
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About MADISON TECHNOLOGIES INC. (OTCMKTS:MDEX)
Madison Technologies Inc. is a shell company. The Company is a development-stage technology company, which is engaged in the acquisition and development of technology. The Company, through its subsidiary, Scout Resources, Inc., conducts Canadian exploration activities. The Company intends to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to by persons or firms. The Company does not restrict its search to any specific business, industry or geographical location, and participates in business ventures of any nature.