4//SEC Filing
Honour Edward S 4
Accession 0002016018-24-000002
CIK 0001945619other
Filed
May 30, 8:00 PM ET
Accepted
May 31, 2:18 PM ET
Size
8.0 KB
Accession
0002016018-24-000002
Insider Transaction Report
Form 4
Honour Edward S
DirectorChairman and CEO
Transactions
- Other
Common Stock
2024-05-31−2,450,000→ 0 total - Other
Series A Preferred
2024-05-31+2,450→ 2,450 totalExercise: $0.00→ Common Stock (2,450,000 underlying)
Footnotes (2)
- [F1]On May 29, 2024, the reporting person voluntarily exchanged 2,450,000 shares of common stock issued by Kinetic Seas Incorporated (the "Company") for 2,450 shares of Series A Preferred Stock (the "Preferred Stock") of the company.
- [F2]Each share of Preferred Stock is convertable at any time at the discretion of the holder to 1,000 shares of Common Stock of the Company. The Preferred Stock is perpetual, is entitled to vote on any matters put to a vote of the common stockholders on an as-converted basis and is entitled to receive any dividends delcared by the Company on the common stock on an as-converted basis. The Preferred Stock is entitled to a liquidation preference of $0.01 per share prior to any distribution to common stockholders in a liquidation of the Company. The Company is entitled to effect a mandatory conversion of the Preferred Stock into common stock at any time there are less than 200,000 shares of Preferred Stock outstanding.
Documents
Issuer
Kinetic Seas Inc.
CIK 0001945619
Entity typeother
Related Parties
1- filerCIK 0002016018
Filing Metadata
- Form type
- 4
- Filed
- May 30, 8:00 PM ET
- Accepted
- May 31, 2:18 PM ET
- Size
- 8.0 KB