Item 1.01 Entry into a Material Definitive Agreement.
Securities Purchase Agreements
On
The Preferred Shares are convertible into 59,270,000 shares of common stock.
Series F Preferred Stock
The Company has designated a new class of preferred stock as "Series F Preferred
Stock" (the "Preferred Shares") in the aggregate amount of 59,270,000 shares
with a par value
Each share of Preferred Shares shall be convertible, at the option of the holder
thereof, at any time after the date of issuance of such share, into one share of
fully paid and non-assessable Common Stock and shall automatically convert if
the market price of CYCA's common stock trades over a
Each holder of outstanding shares of Series F Preferred Stock shall be entitled to cast one (1) vote for each share of Series F Preferred Stock held with holders of common stock at stockholder meetings, or by written consent. Dividends shall accrue on the Preferred Shares and be payable quarterly, in cash or in shares of Common Stock at the Company's sole discretion, at the rate per annum of 10%.
The above description of the "Series F Preferred Stock" does not purport to be complete and is qualified in its entirety by the full text of such Series F Preferred Stock, which is incorporated herein and attached hereto as Exhibit 4.1.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
Trading on OTCQB Market Exchange
On
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On
A copy of the Certificate of Designation is attached hereto as Exhibit 4.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 4.1 Form of Certificate of Designation for Series F Preferred Stock 2
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