KULR Technology Group (KULR) has released an update to notify the public and investors about the unregistered sales of equity securities.
The Board of KULR Technology Group, Inc. approved the issuance of 730,000 shares of Non-convertible Series A Voting Preferred Stock to CEO Michael Mo, under conditions that allow the Board to retract the shares if Mo leaves his positions within the company. This strategic decision is aimed at enhancing the company’s negotiating leverage and protecting against hostile takeovers, while maintaining alignment with stockholder interests. These shares carry no dividend rights or liquidation rights but grant 100 votes per share, as detailed in the Certificate of Designation filed in 2017.
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