Company: TGNT
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001477932-25-003416
Chunk: 67

Company: Totaligent, Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 67
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 In the event of liquidation, dissolution or winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference over the Common Stock. Holders of our Common Stock have no pre-emptive rights, no conversion rights and there are no redemption provisions applicable to our Common Stock.

Preferred Stock

Our Board has the authority, without further action by the stockholders, to issue from time to time the preferred stock in one or more series for such consideration and with such relative rights, privileges, preferences, and restrictions that the Board may determine. The preferences, powers, rights, and restrictions of different series of preferred stock may differ with respect to dividend rates, amounts payable on liquidation, voting rights, conversion rights, redemption provisions, sinking fund provisions and purchase funds and other matters. The issuance of preferred stock could adversely affect the voting power or other rights of the holders of Common Stock.

We have authorized 1,000,000 shares designated as Series D Preferred Stock, $0.01 par value, As of April 25, 2025, 576,562 shares have been issued. Each share of Series D Preferred Stock is convertible at the option of the holder into 1,000,000 shares of our Common Stock. The Series D Preferred Stock does not entitle the holder to vote, except with respect to the issuance of securities which are not junior to the Series D Preferred Stock in terms of dividend rights.

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Dividends

Since inception we have not paid any cash dividends on our capital stock. We currently do not anticipate paying any cash dividends in the foreseeable future on our Common Stock, when issued pursuant to this offering. Although we intend to retain our earnings, if any, to finance the exploration and growth of our business, our Board will have the discretion to declare and pay dividends in the future. Payment of dividends in the future will depend upon our earnings, capital requirements, and other factors, which our Board may deem relevant.

SEPA

On April 25, 2025, we entered into the SEPA with the Selling Stockholder. Pursuant to the SEPA, we have the right to sell to the Selling Stockholder up to $3 million shares of our common stock, subject to certain limitations and conditions set forth in the SEPA, from time to time during the term of the SEPA. Sales of the shares of common stock to the Selling Stockholder under the