Mitta Vidhyadhar 4
4 · IIOT-OXYS, Inc. · Filed Apr 15, 2026
Research Summary
AI-generated summary of this filing
IIOT‑OXYS (ITOX) Former Director Mitta Exchanges Debt for Preferred
What Happened
Vidhyadhar Mitta, a former director of IIOT‑OXYS, exchanged $216,156 of principal and accrued interest owed under a convertible promissory note for 180 shares of Series E Convertible Preferred Stock and agreed to cancel 12,000 shares of Series A Supervoting Preferred Stock. The Debt Exchange Agreement closed on November 5, 2025; the Form 4 reporting the transaction was filed April 15, 2026. No per‑share market price is reported because these were private derivative/contractual dispositions (transaction code J).
Key Details
- Transaction date: November 5, 2025 (reported on Form 4 filed April 15, 2026 — late filing).
- Consideration: $216,156 of principal plus accrued interest (per Debt Exchange Agreement).
- Disposition: 12,000 Series A Supervoting Preferred shares cancelled (disposed).
- Acquisition: 180 shares of Series E Convertible Preferred Stock issued to Mitta.
- Prices: N/A (private conversion/exchange, not an open‑market trade).
- Holdings after transaction: Reporting person separately holds 1,736,843 shares of common stock (per filing); that figure does not include any common shares that could result from conversion of the preferred securities.
- Notable footnotes:
- Series A converts to common at a rate of 1:100 (so 12,000 Series A could have represented up to 1,200,000 common shares if previously converted).
- Series E is convertible/exercisable (conversion mechanics not specified in the Form 4).
- Transactions are subject to a 4.99% beneficial ownership limitation.
Context
This was a debt‑for‑preferred‑stock exchange (not a market sale or purchase). The deal reduced the company's outstanding debt owed to Mitta by about $216k and replaced (in part) that claim with preferred equity. Cancelling the Series A shares removes a source of potential future conversion into common shares (noted conversion rate 1:100), while issuance of Series E creates a new convertible preferred position that could convert to common under its terms. The late filing of the Form 4 may affect short‑term transparency for investors; the economic effect (debt reduction vs. potential future dilution) depends on the Series E conversion terms and any ownership limits.
Insider Transaction Report
- Other
Series A Super-Voting Preferred Stock
[F1][F2][F3]2025-11-05−12,000→ 1,736,843 totalFrom: 2020-11-09→ Common Stock (1,200,000 underlying) - Other
Series E Convertible Preferred Stock
[F2][F4][F5]2025-11-05+180→ 433,736,843 totalExercise: $0.00From: 2025-11-05→ Common Stock (432,000,000 underlying)
- 1,736,843
Common Stock
[F6]
Footnotes (6)
- [F1]Each holder of Series A Supervoting Preferred Stock may voluntarily convert its shares into shares of common stock of the Company at a rate of 1:100 (as may be adjusted for any combinations or splits with respect to such shares).
- [F2]On October 30, 2025, the Company entered into a Debt Exchange Agreement (the "Mitta DEA") with Vidhyadhar Mitta, it's former Director. Pursuant to the Mitta DEA, Mr. Mitta exchanged $216,156 of principal and accrued and unpaid interest owed to him by the Company under the 12% Secured Convertible Promissory Note issued to Mr. Mitta on August 2, 2019 (the "Mitta Note") for 180 shares (the "Mitta Shares") of Series E Preferred Stock. In addition to the issuance of the Mitta Shares, Mr. Mitta agreed to cancel 12,000 shares of Series A Preferred Stock owned by him. The closing of the Mitta DEA occurred on November 5, 2025.
- [F3]Each share of Series A Supervoting Preferred Stock is exercisable until all shares have been exercised by the holder.
- [F4]Each share of Series E Convertible Preferred Stock is exercisable until all shares have been exercised by the holder.
- [F5]Subject to a 4.99% beneficial ownership limitation.
- [F6]Represents 1,736,843 shares of Common Stock directly and beneficially owned by the Reporting Person. These shares are separate from, and do not include, any shares of Common Stock issuable upon conversion or exercise of the derivative securities reported in Table II.