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v2.4.0.6
Note 9 - Preferred Stock
12 Months Ended
Dec. 31, 2011
Notes  
Note 9 - Preferred Stock

NOTE 9 – PREFERRED STOCK

 

Series A Preferred Stock

Generation Zero has authorized 1,000 shares of Series A Preferred Stock which has a par value of $0.001 per share. Each share has no dividend rights, no liquidation preference, and no conversion or redemption rights. The shares of Series A Preferred Stock have the right, voting in aggregate, to vote on all shareholder matters equal to fifty-one percent (51%) of the total vote. As of December 31, 2011, there were 1,000 shares of Series A preferred stock issued and outstanding.

 

Series B Preferred Stock

Generation Zero has authorized 2,000,000 shares of Series B Preferred Stock which has a par value of $2.50 per share. Each share has no dividend rights, no liquidation preference, no voting rights, and no conversion or redemption rights. As of December 31, 2011, there were no shares of Series B preferred stock issued and outstanding.