Corporate ActionJul 6, 2026, 06:26 AM
Barrel Energy Converts 750K Series A Preferred to 750M Common Shares
AI Summary
Barrel Energy Inc. converted 750,000 shares of Series A Preferred Stock into 750,000,000 shares of common stock on July 2, 2026. This conversion occurred at a 1:1,000 ratio and involved officers, directors, and greater-than-ten-percent beneficial owners. Following the conversion, common shares outstanding increased from 2,144,622 to 752,144,622, while Series A Preferred shares decreased from 5,000,000 to 4,250,000. No cash proceeds were received by the company.
Key Highlights
- 750,000 Series A Preferred shares converted into common stock.
- 750,000,000 common shares issued due to the conversion.
- Conversion ratio was 1 Series A Preferred share to 1,000 common shares.
- James Jarmin Kaltsas, Alfreddie Johnson, and Willis Jerome Pumphrey Jr. each converted 250,000 Series A shares.
- Common shares outstanding increased from 2,144,622 to 752,144,622.
- Series A Preferred shares outstanding decreased from 5,000,000 to 4,250,000.
- No cash proceeds were received by the company from the conversions.
Price Impact
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