Business
Sky440 Increases Authorized Common and Preferred Shares
Sky440 Increases Authorized Common and Preferred Shares.
About this update from Sky440 Inc
[{"type":"text","content":"- Company also Authorizes Increased Voting Rights for Class B Preferred Stock -Irvine, CA, October 24, 2018 – Sky440, Inc. (OTC PINK: SKYF) announced today that effective October 18, 2018 the Company amended its Articles of Incorporation providing for an increase in the authorized common and preferred shares. As a result, the total authorized shares are 30 Billion (30,000,000,000), with 29 Billion (29,000,000,000) common shares authorized and One Hundred Million (100,000,000) preferred shares authorized. The par value per common share remains the same at $0.0001 per share. The par value per preferred share remains the same at $0.001 per share.In addition, effective October 18, 2018, the Company authorized an amendment to its Articles of Incorporation providing for an increase in the voting rights for holders of the Company’s $.001 par value Class B Preferred Shares. Each holder of the Class B Preferred Stock shall have the right to ten thousand (10,000) votes per share of Class B Preferred Stock held of record by such holder.The Company also announced that as of October 24, 2018, the Company is in the process of having its Regulation A Tier 1 Filing qualified. The Company originally filed its Regulation A Tier 1 Offering Circular with the Securities and Exchange Commission (“SEC”) on July 26, 2018. Under the terms of the filing, as amended, the Company is looking to raise $2,000,000 at $.0001 per share once the filing becomes effective. Details of the Regulation A Tier 1 Filing are available through the Company’s filings with the SEC at www.sec.gov. The increase in the total amount of authorized shares was necessitated by the number of shares required to be issued in the event the Company’s Regulation A Tier 1 Offering is fully subscribed at the current price point per share.For detailed information about Sky440, please see our annual and quarterly filings which are posted at www.otcmarkets.com/stock/SKYF/disclosure. Additional information about Sky440 will be available soon on the Sky440 website at www.sky440.com and current updates are posted on Twitter at www.twitter.com/sky440inc.About Sky440:Sky440, Inc. (the 'Company') a development stage company headquartered at 300 Spectrum Center Drive, Suite 400, Irvine California 92618. As of October 24, 2018, the Company’s planned principal operations have commenced at a ...