Document:

FOMO
CORP.

 

Summary
Capitalization

 

	Share Structure:	 	#	 	 	Strike	 	 	CSEs	 	 	Comment
	 	 	 	 	 	 	 	 	 	 	 	 
	Common shares	 	 	2,152,723,775	 	 	 	-	 	 	 	2,152,723,775	 	 	Sept. 10-Q
	Pref A	 	 	3,000,000	 	 	 	 20-1	 	 	 	60,000,000	 	 	“
	Pref B	 	 	525,000	 	 	 	 1000-1	 	 	 	525,000,000	 	 	“
	Pref C	 	 	1,000,000	 	 	 	1-1	 	 	 	1,000,000	 	 	“
	Warrants	 	 	30,000,000	 	 	 	0.0010	 	 	 	-	 	 	Advisory Board
	“	 	 	10,000,000	 	 	 	0.0005	 	 	 	-	 	 	EDGE Fibernet
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total	 	 	2,197,248,775	 	 	 	 	 	 	 	2,738,723,775	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Summary Balance Sheet (in 000):
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Cash and cash equivalents	 	$	10,083	 	 	 	 	 	 	 	 	 	 	 
	Assets held for sale	 	 	306,220	 	 	 	 	 	 	 	 	 	 	 
	Current assets	 	 	316,303	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Current liabilities	 	 	849,626	 	 	 	 	 	 	 	 	 	 	excludes derivative liability
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total LT debt and other	 	$	849,626	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Enterprise Value (EV):	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Share price:	 	$	0.0002	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Diluted market cap.	 	$	547,745	 	 	 	 	 	 	 	 	 	 	 
	plus negative working capital	 	 	533,323	 	 	 	 	 	 	 	 	 	 	 
	less cash from options	 	 	-	 	 	 	 	 	 	 	 	 	 	 
	Diluted EV:	 	$	1,081,068	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Adjusted EV:	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Share price:	 	$	0.0001	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Diluted market cap.	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Diluted shares	 	$	273,872	 	 	 	 	 	 	 	 	 	 	 
	plus convertible debentures	 	 	613,656	 	 	 	 	 	 	 	 	 	 	assumes debentures converted worst case .0001 stock price
	plus negative working capital	 	 	226,495	 	 	 	 	 	 	 	 	 	 	 
	less cash from options	 	 	-	 	 	 	 	 	 	 	 	 	 	 
	Diluted EV:	 	$	1,114,023Exhibit 4.1

DESCRIPTION
OF CAPITAL STOCK

The following is
a description of each class of securities of Silver Bull Resources, Inc. (“Silver Bull” or the “Company”)
that is registered under Section 12 of the Securities Exchange Act of 1934, as amended, and does not purport to be complete.
For a complete description of the terms and provisions of such securities, refer to the Company’s restated articles of incorporation,
as amended, and the Company’s amended and restated bylaws, which are incorporated herein by reference to Exhibit 3.1.1
to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”)
on January 14, 2011, Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 26,
2011, and Exhibit 3.1.2 to the Company’s Annual Report on Form 10-K filed with the SEC on January 14, 2011,
respectively. This summary is qualified in its entirety by reference to these documents.

Silver Bull’s
restated articles of incorporation, as amended, authorizes Silver Bull to issue 300,000,000 shares of common stock, $0.01 par value
per share. As of January 13, 2020, 236,328,214 shares of Silver Bull common stock were issued and outstanding. The rights
of the holders of Silver Bull common stock are governed by Chapter 78 of the Nevada Revised Statutes, Silver Bull’s
restated articles of incorporation, as amended, and Silver Bull’s amended and restated bylaws.

Common Stock

Dividend Rights

Holders of Silver
Bull common stock will be entitled to receive dividends when, as and if declared by the Company’s board of directors, and
out of funds legally available for their payment. At the present time, the Company does not anticipate paying dividends, cash or
otherwise, on Silver Bull common stock in the foreseeable future. Future dividends will depend on the Company’s earnings,
if any, the Company’s financial requirements and other factors.

Redemption Rights

Silver Bull common
stock is not redeemable or convertible.

Voting Rights

Each holder of Silver
Bull common stock is entitled to one vote per share, and all voting rights are vested in the holders of shares of Silver Bull common
stock. Holders of shares of common stock will have noncumulative voting rights, which means that the holders of more than 50% of
the shares voting for the election of directors will be able to elect 100% of the directors, and the holders of the remaining shares
voting for the election of directors will not be able to elect any directors.

Election of Directors

The Company’s
directors are elected by a majority vote in a meeting at which a quorum is present. A director candidate that receives a majority
of the votes in favor of such candidate will be elected to serve on the Company’s board of directors.

In February 2016,
the Company’s board of directors adopted a majority voting policy stipulating that stockholders shall be entitled to vote
in favor of, or withhold from voting for, each individual director nominee at a stockholders’ meeting. If the number of shares
“withheld” for any nominee exceeds the number of shares voted “for” such nominee, then, notwithstanding
that such director was duly elected as a matter of corporate law, he or she shall tender his or her written resignation to the
chair of the board. The Corporate Governance and Nominating Committee will consider such offer of resignation and will make a recommendation
to the board of directors concerning the acceptance or rejection of the resignation after considering, among other things, the
stated reasons, if any, why certain stockholders “withheld” votes for the director, the qualifications of the director
and whether the director’s resignation from the board would be in the best interests of the Company. The board of directors
must take formal action on the Corporate Governance and Nominating Committee’s recommendation within 90 days and announce
its decision by a press release. According to the majority voting policy, the affected director cannot participate in the deliberations
of the Corporate Governance and Nominating Committee or the board of directors regarding his or her resignation. The majority voting
policy applies only in circumstances involving an uncontested election of directors, meaning an election in which the number of
nominees is equal to the number of directors to be elected.

 

    	  

    	 

    

Liquidation Rights

In the event of
the Company’s voluntary or involuntary liquidation, dissolution or winding up, the holders of Silver Bull common stock will
be entitled to share equally in any of Silver Bull’s assets available for distribution after the payment in full of all debts
and distributions.

No Preemptive or
Similar Rights

Under Nevada law,
a stockholder of a corporation does not have a preemptive right to acquire the corporation’s unissued shares unless there
is a provision to the contrary in the articles of incorporation. The Company’s restated articles of incorporation, as amended,
do not provide the Company’s stockholders with any preemptive or similar rights.

Transfer Agent

The transfer agent
and registrar for Silver Bull common stock is Corporate Stock Transfer, Inc., located at 3200 Cherry Creek Drive South, Suite 430,
Denver, Colorado 80209.

Warrants

As of October 31,
2019, the Company had warrants outstanding to purchase 15,802,305 shares of Silver Bull common stock as follows:

		·	Warrants to purchase 10,888,154 shares at $0.16 per share, exercisable
on July 25, 2018 and expiring on July 25, 2020;

		·	Warrants to purchase 1,011,374 shares at $0.14 per share, exercisable
on July 25, 2018 and expiring on July 25, 2020;

		·	Warrants to purchase 3,682,777 shares at $0.16 per share, exercisable
on August 20, 2018 and expiring on August 20, 2020; and

		·	Warrants to purchase 220,000 shares at $0.14 per share, exercisable
on August 20, 2018 and expiring on August 20, 2020.

The number of shares
of Silver Bull common stock to be received upon the exercise of each warrant may be adjusted from time to time upon the occurrence
of certain events, including but not limited to (i) a declaration of a dividend or other distribution in respect of Silver
Bull common stock; (ii) a subdivision, redivision or change to the outstanding shares of Silver Bull common stock into a greater
number of shares of Silver Bull common stock; (iii) a reduction, combination or consolidation of Silver Bull common stock
into a lesser number of shares of Silver Bull common stock; (iv) a rights offering to subscribe for or purchase Silver Bull
common stock or securities convertible into or exchangeable for Silver Bull common stock; and (v) a reorganization, reclassification,
consolidation, amalgamation, arrangement or merger of the Company with or into any other corporation or entity, or a sale, lease,
exchange or transfer of substantially all of the undertaking of assets of the Company, or similar event.

Anti-Takeover Provisions
in the Company’s Restated Articles of Incorporation, as Amended, and Amended and Restated Bylaws

The Company’s
restated articles of incorporation, as amended, and amended and restated bylaws also contain provisions that the Company describes
in the following paragraphs, which may delay, defer, discourage, or prevent a change in control of the Company, the removal of
the Company’s existing management or directors, or an offer by a potential acquirer to the Company’s stockholders,
including an offer by a potential acquirer at a price higher than the market price for the stockholders’ shares.

Among other things,
Silver Bull’s restated articles of incorporation, as amended, and amended and restated bylaws:

		·	provide that vacancies on the board of directors may be filled by
the vote of a two-thirds (2/3) majority of the directors then in office or in the case of a vacancy by resignation or death, by
the majority of directors then in office;

 

    	  

    	 

    

 

 

		·	establish advance notice procedures with regard to stockholder proposals
relating to the nomination of candidates for election as directors or new business to be brought before meetings of the Company’s
stockholders. These procedures provide that notice of stockholder proposals must be timely given in writing to the Company’s
corporate secretary prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be received at
the Company’s principal executive offices not less than 120 days prior to the first anniversary of the prior year’s
annual meeting (or, in the case of a special meeting, a reasonable time before the Company begins to print and send its proxy materials).
The Company’s amended and restated bylaws specify the information that must be included in a stockholder’s notice.
These requirements may prevent stockholders from bringing matters before the stockholders at an annual or special meeting;

		·	provide that stockholders may not act by written consent in lieu
of a meeting;

		·	provide that stockholders are not permitted to call special meetings
of stockholders. Only the board of directors, by a two-thirds (2/3) majority vote, and the Company’s president are permitted
to call a special meeting of stockholders; and

		·	provide that the Company’s board of directors, by a two-thirds
(2/3) majority vote, may amend or repeal the Company’s bylaws without further stockholder approval unless otherwise required
by law, and provide that a stockholder amendment to the bylaws requires a favorable vote of sixty-six and two-thirds percent (66
2/3%) of the Company’s outstanding voting shares then entitled to vote at an election of directors.

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