IIOT-OXYS, Inc. Appoints Director Vidhyadhar Mitta
$ITOX · IIOT-OXYS, Inc.Research Summary
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IIOT-OXYS, Inc. Appoints Director Vidhyadhar Mitta
What Happened IIOT-OXYS, Inc. announced that its Board of Directors appointed Vidhyadhar Mitta as a director effective September 21, 2026. Mr. Mitta previously served as a director of the Company. The Board has no committees, so he was not named to any committee.
Key Details
- Appointment effective: September 21, 2026.
- Related transaction: On October 30, 2025, the Company and Mr. Mitta entered a Debt Exchange Agreement; closing occurred November 5, 2025.
- Debt conversion: $216,156 of principal and accrued interest under a 12% Secured Convertible Promissory Note (issued August 2, 2019) was exchanged for 180 shares of Series E Preferred Stock.
- Equity cancellation: Mr. Mitta agreed to cancel 12,000 shares of Series A Preferred Stock. Company reports no other transactions with Mr. Mitta that would trigger Item 404(a) reporting.
Why It Matters A board appointment can affect company governance and oversight; investors should note Mr. Mitta’s prior board experience with IIOT-OXYS. The disclosed debt-for-equity exchange reduced the Company’s outstanding debt to Mr. Mitta by $216,156 and resulted in issuance of preferred shares and cancellation of other preferred holdings, which can affect the company’s capitalization and creditor/equity mix. The filing states there are no other reportable related-party arrangements between the Company and Mr. Mitta.