Delaware – June 11, 2018 – Followone Inc, the Delaware based organization that helps businesses grow through an e-commerce networking platform leveraging social media and other platforms, has announced the creation of the Corporation’s authorized Preferred Stock designated as Series A Super Voting Preferred Stock by unanimous consent of the Board of Directors dated June 4, 2018.
The launch of the super voting preferred stock has come on the back of demand from investors and employees that the Founder, CEO and President must remain at the helm of affairs and in control of the corporation in the best interests of all stakeholders. The following sets out the preferences and rights of Series A Super Voting Preferred Stock.
Followone helps businesses connect and grow by leveraging networking platforms such as Facebook, Google+ and Craigslist. Its goal is to create a shopping mall like experience, where users can reach their full potential from their audience, prospects and customers. Businesses and job seekers who join Followone gain visibility, develop a strong rapport with their connections, and showcase their products to their global target audience and prospects with greater chances of converting them into customers.
Pursuant to Section 151 of the General Corporation Law of the State of Delaware, the undersigned Chief Executive Officer and President of Followone, Inc. (the “Corporation”), a corporation organized and existing under the laws of the State of Delaware, does hereby make this Certificate of Designations (this “Certificate of Designations”) and DOES HEREBY CERTIFY that pursuant to the authority contained in the Corporation’s Certificate of Incorporation, and pursuant to Section 151 of the General Corporation Law of the State of Delaware and in accordance with the provisions of the resolution creating a series of the class of the Corporation’s authorized Preferred Stock designated as Series A Super Voting Preferred Stock, as follows:
By unanimous written consent of the Board of Directors of the Corporation dated June 4, 2018, the Board of Directors designated one (1) share of the Preferred Stock as Series A Super Voting Preferred Stock, par value $0.00001 per share (the “Series A Preferred Stock”), pursuant to a resolution providing that a series of preferred stock of the Corporation be and hereby is created, and that the designation and number of shares thereof and the voting and other powers, preferences and relative, participating, optional or other rights of the shares of such series and the qualifications, limitations and restrictions thereof are as follows:
SERIES A SUPER VOTING PREFERRED STOCK
Section 1. Powers and Rights of Series A Super Voting Preferred Stock. There is hereby designated a class of Preferred Stock of the Corporation as “Series A Super Voting Preferred Stock” par value $0.00001 per share (the “Series A Preferred Stock”). The number of shares, powers, terms, conditions, designations, preferences and privileges, relative, participating, optional and other special rights, and qualifications, limitations and restrictions, if any, of the Series A Preferred Stock shall be as set forth in this Certificate of Designation.
(a) Number. The number of authorized shares of the Series A Preferred Stock is one (1).
(b) No Dividends or Economic Rights. The Series A Preferred Stock shall not be entitled to receive any dividends or other distributions paid on any other shares off common stock
(c) No Preferences upon Liquidation. The Series A shall not be entitled to receive any payments in the event of any liquidation
(d) No Conversion. The Series A Preferred Stock shall not be convertible into any other shares or class of the Corporation’s Stock.
(e) No Registration Rights. The Series A Preferred Stock shall not have any registration rights.
(f) Vote. On any matter, event or action submitted to the holders of Common Stock for a vote or on which the holders of Common Stock have a right to vote, and on any matter, event or action submitted to the holders of all of the Corporation’s Stock for a Vote or on which the holders of Corporation’s Stock have a right to vote, the one (1) share of Series A Preferred Stock designated hereunder shall have a number of votes equal to one hundred and one percent (101%) of the total votes eligible to be cast on such matter by the Common Stock or all of the Corporation’s Stock, as applicable. The Series A Preferred Stock shall be entitled to one vote on any amendment of this Certificate of Designation
It is critical for the successful growth of Followone that its Founder, CEO and President remain in control for as long he can. This has been the consistent feedback received from its stakeholders and employees. The importance of voting rights and powers of founders is also evident from the case of organizations such as Facebook, SnapChat and Google, which have continued to perform well under their respective founders.
Followone intends to follow the industry standards and best practices as well as precedents that have been set by above and other organizations. The issue of Series A Super Voting Preferred Stock is a step in a positive direction, and Followone hopes that all stakeholders will join in its endeavor to create a strong, globally respected organization.
For more information, please visit: www.Followone.com