EX-3.11
from 8-K
6 pages
Liquidation Rights. Upon Any Liquidation, Dissolution or Winding Up of the Corporation, Whether Voluntary or Involuntary, Before Any Distribution or Payment Shall Be Made to the Holders of Any Stock Ranking Junior to the Series E Preferred Stock, the Holders of the Series E Preferred Stock Shall Be Entitled to Be Paid Out of the Assets of the Corporation an Amount Equal to $1.00 Per Share Or, in the Event of an Aggregate Subscription by a Single Subscriber for Series E Preferred Stock in Excess of $100,000, $0.997 Per Share (As Adjusted for Any Stock Dividends, Combinations, Splits, Recapitalizations and the Like With Respect to Such Shares) (The “Preference Value”), Plus All Declared but Unpaid Dividends, for Each Share of Series E Preferred Stock Held by Them. After the Payment of the Full Applicable Preference Value of Each Share of the Series E Preferred Stock as Set Forth Herein, the Remaining Assets of the Corporation Legally Available for Distribution, if Any, Shall Be Distributed Ratably to the Holders of the Corporation’s Common Stock. 4. Conversion and Anti-Dilution
12/34/56