Starfleet Innotech announces authorization of new class of preferred shares to fuel growth
NEW YORK, June 23, 2022 (GLOBE NEWSWIRE) -- , Inc. (OTC Pink: SFIO) announced today the successful partial amendment of its Articles of Incorporation, creating a new class of shares to support its continued fundraising efforts. Under this amendment, the company has authorized 310,000,000 preferred series B shares, convertible at a ratio of 10 common shares for each single preferred share with full voting rights.
“With this approval from NVSOS, these new authorizations will allow us to pursue more strategic acquisitions, as well as onboard new officers and key partners,” said Jeths Lacson, CEO of . According to Lacson, approximately 300,000,000 common shares (restricted) issued to existing officers and key partners will be converted into this new class of preferred shares. These shares will carry at least a 12-month moratorium on sales, further restrictions on sales and an opportunity for conversion to common shares beyond the moratorium, as well as a right of first refusal for the company to repurchase offered shares.
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About Starfleet Innotech, Inc.
. (OTC: SFIO) is a global investment holding company focused on innovation through disruptive collaborations across its three key industries: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, Malaysia, the United Arab Emirates, the United States, and the Philippines, SFIO makes strategic investments in high-growth businesses, building synergies across its diverse portfolio to provide maximum shareholder value. Guided by tradition, driven by innovation, and enabled by collaboration— is on a hyper-growth path to build a thriving global business ecosystem, shaping the futures of its core industries.
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