Company: CLOQ
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023402
Chunk: 21

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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Corporation to the holders of the common stock, the original purchase price paid for the Series A Preferred Stock. All 30,000 shares
of the Series A Super Voting Preferred Stock were issued in 2017.

On
February 28, 2022, the 10,000 Series A Preferred Stock held by Mark Carten were redeemed by the Company and returned to treasury.

On
May 29, 2025, the Company amended its articles of incorporation to create a new class of stock designated Series B Convertible Preferred
Stock consisting of fifty-thousand (50,000) shares at par value of $0.001 per share. Certain rights, preferences, privileges and restrictions
were established for the Series B Convertible Preferred Stock as follows: (a) the amount to be represented in stated capital at all times
for each share of Series A Preferred Stock shall be its par value of $0.001 per share; (b) except as otherwise required by applicable
law, holders of shares of Series B Convertible Preferred Stock shall have no voting rights and shall not be entitled to notice of any
meeting of shareholders or to vote upon any matter submitted to shareholders for a vote; (c) upon the occurrence of a sale of the Company,
including a merger, acquisition, or sale of all or substantially all of the Company’s assets, each share of Series B Preferred
Stock shall automatically convert into one thousand (1,000) shares of the Company’s common stock without any further action by
the holder thereof. Such conversion shall be automatic and effective immediately prior to the closing of such sale; and (d) in the event
of any liquidation, dissolution or winding-up of the Company, either voluntary or involuntary, the holders of the Series B Convertible
Preferred Stock shall have no liquidation preference over any other class or series of shares of the Company and shall only be entitled
to receive an amount per share equal to the amount paid or credited as paid on such shares and on a pari passu basis with the holders
of Common Shares and any other class or series of shares ranking equally with the Series B Convertible Preferred Shares.

Incentive
Stock Options

The
employment contracts for Christopher Jackson and Enrico Giordano include performance incentive stock options based upon the Company meeting
certain performance conditions that can potentially result in the issuance of stock option awards of up to 5,000,000 shares each in the
event that the Company reaches certain performance goals. Specifically, Christopher Jackson