GIVBUX, INC. 8-K

What Happened
GivBux, Inc. (GBUX) filed an 8-K reporting that on May 29, 2026 the company sold 1,000,000 restricted shares of its Series C Preferred Stock to founder Kenyatto M. Jones. The Series C shares carry super‑voting rights of 5,000 votes per share, are not convertible into common stock, and were issued in exchange for $1,000 of consideration paid by cancellation of debt owed by the company to Mr. Jones. The Company’s Certificate of Designation for the Series C Preferred (filed November 3, 2022) is available as Exhibit 3.3.

Key Details

• Shares issued: 1,000,000 restricted shares of Series C Preferred Stock (May 29, 2026).
• Voting power: 5,000 votes per Series C share — the issuance represents 1,000,000 × 5,000 = 5,000,000,000 votes.
• Conversion: Series C Preferred is not convertible into common stock (no direct dilution of common via conversion).
• Consideration: $1,000 total, satisfied by cancellation of debt owed by the company to founder Kenyatto M. Jones.

Why It Matters
This transaction concentrates substantial voting power in the founder through super‑voting preferred shares—important for governance and control decisions. Although the Series C shares are not convertible (so no immediate dilution of common shares), investors should note the issuance was an unregistered sale to a related party settled via debt cancellation and review the Certificate of Designation (Exhibit 3.3) for full rights and restrictions.