Description of Bespoke Extracts, Inc. Common Stock Registered Under Section 12 of the Exchange Act
This document describes the rights and features of Bespoke Extracts, Inc.'s common stock, which is registered under Section 12 of the Securities Exchange Act of 1934. The company is authorized to issue up to 3 billion shares of common stock and 50 million shares of preferred stock. Common stockholders have standard voting rights, receive dividends at the board's discretion, and share in assets upon liquidation. There are no pre-emptive, conversion, or redemption rights. One share of Series C Preferred Stock currently controls 51% of the company's voting power.
Exhibit 4.1
DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934
Bespoke Extracts, Inc. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, which is the Company’s common stock, $0.001 par value per share.
Description of Common Stock
The authorized capital stock of the Company consists of 3,000,000,000 shares of common stock at a par value of $0.001 per share, and 50,000,000 shares of blank check preferred stock, par value $0.001.
Holders of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote. Holders of common stock do not have cumulative voting rights. Therefore, subject to the rights of any outstanding preferred stock, holders of a majority of the shares of common stock voting for the election of directors can elect all of the directors. Holders of the Company’s common stock representing a majority of the voting power of the Company’s capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at any meeting of stockholders. A vote by the holders of a majority of the Company’s outstanding shares is required to effectuate certain fundamental corporate changes such as liquidation, merger or an amendment to the Company’s articles of incorporation. As of the date of the filing of this report, the Company has 1 outstanding share of Series C Preferred Stock, which entitles the holder to 51% of the voting power of the Company’s stockholders.
Holders of the Company’s common stock are entitled to share in all dividends that the board of directors, in its discretion, declares from legally available funds. In the event of a liquidation, dissolution or winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference over the common stock. The Company’s common stock has no pre-emptive rights, no conversion rights and there are no redemption provisions applicable to the Company’s common stock.
