NAC Global Technologies, Inc. (OTCMKTS:NACG) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year
On March 6, 2017, NAC Global Technologies, Inc. (the
Company) filed an amendment (the
Amendment) to the Companys Certificate of
Designations, Preferences and Rights of the Series A Convertible
Preferred Stock (the Certificate of
Designations) for the designation of the Series A
Convertible Preferred Stock of the Company, par value $0.001 per
share (the Series A Preferred Stock) with the
Secretary of State of the State of Nevada. The Amendment was
approved by the Companys Board of Directors and RDW Capital, LLC
(RDW), holder of all currently outstanding
shares of Series A Preferred Stock. The purpose of the Amendment
was to increase the authorized shares of Series A Preferred Stock
to 1,688,889 shares. The Amendment is attached to this Current
Report as Exhibit 3.1. All descriptions of the Amendment herein
are qualified in their entirety to the text of Exhibit 3.1
hereto, which is incorporated herein by reference.
The Amendment was filed in connection with a modification to the
Companys previously announced financing with RDW. to such
modification, RDW agreed to provide an additional $20,000 to the
Company in consideration of additional shares of Series A Stock
and certain payment order as additional collateral of the
Item9.01. Financial Statements and Exhibits.
Certificate of Amendment to Certificate of Designations,
Preferences and Rights of Series A Convertible Preferred
Stock, dated March 6, 2017.
About NAC Global Technologies, Inc. (OTCMKTS:NACG)
NAC Global Technologies, Inc. is an engineering services, research and development (R&D), and manufacturing company. The Company’s subsidiary, NAC Drive Systems, Inc. (NAC) is a manufacturer and supplier of harmonic gearing technology (HGT) that operates in the robotics, automation and medical industries, among others. The Company manufactures its HGT components in Beijing, China, and performs final assembly and quality control in Port Jervis, New York. Beyond its HGT platform, it intends to bring additional, synergistic subsidiary business into NAC via strategic acquisition with a focus on the energy markets. It manufactures harmonics of approximately 3,500 newton-meters (Nm)/30,997 pound inch (in-lb) capacity or over 13 inch diameter. NAC Global Technologies, Inc. (OTCMKTS:NACG) Recent Trading Information
NAC Global Technologies, Inc. (OTCMKTS:NACG) closed its last trading session down -0.0040 at 0.0120 with shares trading hands.