UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On March 21, 2024, AiAdvertising, Inc. (the “Company”) filed a Certificate of Designation of Preferences, Rights and Limitations of Series K Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Nevada, and issued 1,000 shares of Series K Preferred Stock to Gerard Hug, the Company’s chief executive officer, for services rendered.
Pursuant to the Certificate of Designation the Company designated 1,000 shares of preferred stock as Series K Preferred Stock (the “Series K Preferred Stock”). The Series K Preferred Stock is not convertible into common stock and does not have any dividend rights or any liquidation preference. The Series K Preferred Stock entitles the holder to 51% of the voting power of the Company’s stockholders. The Series K Preferred Stock will automatically be redeemed by the Company at the par value of $0.001 per share, on the first to occur of the following events: (i) sixty days after the effective date of the certificate of designation, (ii) the date that Gerard Hug ceases to serve as officer, director or consultant of the Company, or (iii) on the date that the Company’s shares of common stock first trade on any national securities exchange and such listing is conditioned upon the elimination of the preferential voting rights.
The foregoing description of the Certificate of Designation is qualified in its entirety by reference to the Certificate of Designation of Preferences, Rights and Limitations of Series K Preferred Stock, which is filed as Exhibit 3.1 to this Current Report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Exhibit | |
3.1 | Certificate of Designation of Series K Preferred Stock | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
AIADVERTISING, INC. | |||
Date: March 25, 2024 | By: | /s/ Gerard Hug | |
Name: | Gerard Hug | ||
Title: | Chief Executive Officer |
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