Company: EBZT
Filing Date: 2025-01-27
Form Type: 10-Q
Source: 0001477932-25-000477
Chunk: 9

Company: Everything Blockchain, Inc.
Filing Date: 2025-01-27
Form: 10-Q
Item: Part I, Item 8
Chunk 9
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 14Table of Contents

Preferred Stock Series A Preferred Stock As of October 31, 2024 and January 31, 2024, the Company had one million Series A Preferred shares, par value $0.0001, authorized, with 150,000 Series A Preferred shares issued and outstanding. The Series A Preferred stock converts into common stock at the option of the holder of the Series A Preferred. The conversion rate for every one share of Series A Preferred stock is 50 shares of common stock. Each share of Series A Preferred stock entitles the holder to 1,000 votes. Holders of Series A Preferred are entitled to share ratably in dividends if any are declared. There are no redemption rights. In the event of dissolution, the holders of Series A Preferred are entitled to share pro rata all assets remaining after payment in full of all liabilities.   Series C Preferred Stock As of October 31, 2024 and January 31, 2024, the Company had 10 million Series C Preferred shares, par value $0.0001, authorized. As of October 31, 2024, the Company had 300,000 shares issued and outstanding. As of January 31, 2024, the Company had 1,352,632 shares issued and outstanding. The Series C Preferred Stock shall rank senior to the Company’s common stock and Series A Preferred Stock. Each holder of Series C Preferred Stock is entitled to one (1) vote for each share of Series C Preferred Stock held on all matters submitted to a vote of stockholders. Each share of Series C Preferred Stock shall be convertible, at the discretion of the holders, into shares of common stock. The number of common shares issued shall be at the rate of 30% less than the volume-weighted average price or $5.00 per share whichever is less. On May 15, 2024, ACES elected to convert 1,052,632 shares of Series C Preferred Stock into 4,095,948 shares of common stock.

Note 12. Warrants A summary of warrant activity for nine months ended October 31, 2024 is as follows:     Weighted     Average     Conversion   Shares  Price        Warrants outstanding at January 31, 2024  2,611,000  $1.09 Cancelled/Expired  (100,000 )  1.00 Warrants