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TFCT.....next ebay????
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[QUOTE]Originally posted by Ric: [QB] PREFERRED STOCK As of the Record Date, the Company has Fifty million (50,000,000) shares of preferred stock authorized. The issuance and designation of rights of the preferred stock is established by the Board of Directors. The Company presently has four classes or series of preferred stock designated: Preferred stock, Series A, $.001 par value, 1,200,000 shares authorized, no shares issued and outstanding. Preferred stock, Series B, $.001 par value, 1,200,000 shares authorized, issued and outstanding. Each share of Series B stock is entitled to 500 votes but has no other rights or privileges. Preferred stock, Series C, $.001 par value, 15,000,000 shares authorized, issued and outstanding. Each share of Series C stock is convertible into one share of common stock. Series C stock does not have voting rights but, absent the Series B stock, is entitled to appoint three (3) members of the Board of Directors. Series C is not entitled to receive interest or dividends and, apart from its convertibility features, has no preferences in liquidation. Preferred stock, Series D, $1.00 stated value, 1,000,000 shares authorized, 10,000 shares issued and outstanding. Series D stock has no voting rights or other rights or privileges aside from its liquidation value of $1.00 per share. [/QB][/QUOTE]
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