Description of Common Stock Rights under Articles of Incorporation and Bylaws (Hometown International, Inc.)
This document outlines the rights of stockholders of Hometown International, Inc. under Nevada law, its Articles of Incorporation, and Bylaws. It describes the terms of the company's common stock, including the total number of authorized shares, voting rights (one vote per share, no cumulative voting), dividend rights (as determined by the board), lack of preemptive or conversion rights, and the distribution of assets in the event of liquidation. The summary provides key information for current and prospective shareholders about their rights and obligations.
Exhibit 4.6
DESCRIPTION OF CAPITAL STOCK
The rights of our stockholders are be governed by Nevada law, and our Articles of Incorporation, as amended, and our Bylaws. The following briefly summarizes the material terms of our Common Stock.
Common Stock
The Company is authorized to issue 250,000,000 shares of common stock at a par value of $0.0001 and as of December 31, 2021 had 7,797,004 shares of common stock issued and outstanding.
Dividend Rights
The holders of outstanding shares of our common stock are entitled to receive dividends out of funds legally available at the times and in the amounts that our board of directors may determine.
Voting Rights
Each holder of our common stock is entitled to one vote for each share of common stock held on all matters submitted to a vote of stockholders. Cumulative voting for the election of directors is not provided for in our articles of incorporation, which means that the holders of a majority of our shares of common stock voted can elect all of the directors then standing for election.
Preemptive or Similar Rights
Our Common Stock is not entitled to preemptive rights and is not subject to conversion or redemption.
Liquidation Rights
Upon our liquidation, dissolution, or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Common Stock outstanding at that time after payment of other claims of creditors.
