Corporate ActionJun 29, 2026, 07:31 AM
Barrel Energy Amends Series A Preferred Stock Conversion to 1:1,000
AI Summary
Barrel Energy Inc. filed a Corrective Amendment to its Series A Preferred Stock designation on June 22, 2026. This amendment rectifies an administrative error in the original Nevada filing, which inadvertently omitted the intended 1:1,000 conversion ratio of Series A Preferred Stock to common stock. The correction aligns the public records with the company's Stock Purchase Agreement, confirming that each of the 5,000,000 Series A Preferred Shares is convertible into 1,000 common shares, totaling 5 billion common shares upon full conversion.
Key Highlights
- Barrel Energy filed a Corrective Amendment for its Series A Preferred Stock designation.
- The amendment rectifies an administrative error in the original Nevada filing.
- It confirms a 1:1,000 conversion ratio for Series A Preferred to common stock.
- Each Series A Preferred share retains 1,000 voting rights as previously documented.
- The 5,000,000 Series A Preferred shares can convert into 5,000,000,000 common shares.
- The correction aligns public records with the company's Stock Purchase Agreement.
Price Impact
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