IIOT-OXYS Inc (ITOX) has released an update.
IIOT-OXYS, Inc. has introduced a new series of Preferred Stock called “Series C Convertible Preferred Stock,” offering a 12% annual cumulative dividend, with quarterly payments. These dividends can be paid in cash or additional Preferred Stock shares and carry the right to participate in common stock dividends on a converted basis. If not paid on time, dividends incur an 18% penalty rate, and the company cannot favor junior or equal-ranking securities over the Series C Preferred Stock until all obligations are met. Upon conversion, Series C Preferred Stock rights, including dividends and voting, cease, except for the exchange into common stock.
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