Lozinski Jeffrey William 4
4 · Kinetic Seas Inc. · Filed May 31, 2024
Insider Transaction Report
Form 4
Lozinski Jeffrey William
DirectorCOO10% Owner
Transactions
- Other
Series A Preferred Stock
2024-05-31+10,500→ 10,500 totalExercise: $0.00From: 2024-05-31→ Common Stock (10,500,000 underlying) - Other
Common Stock
2024-05-31−10,500,000→ 10,500 total
Footnotes (2)
- [F1]On May 29, 2024 the reporting person exchanged 10,500,000 shares of common stock issued by Kinetic Seas Incorporated (the "Company") for 10,500 shares of Series A Preferred Stock (the "Preferred Stock") of the Company.
- [F2]Each share of Preferred Stock is covertible at any time at the dicretion of the holder inot 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 common stockholders on an as-converted basis and is entitled to receive any dividends declared 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 entiteld to effect a mandatory conversion of the Preferred Stock into common stock at any time that there are less than 200,000 shares of Preferred Stock outstanding.