Certificate of Designation of Series A Preferred Stock of HyperSolar, Inc

EX-4.1 2 f8k071218ex4-1_hypersolarinc.htm CERTIFICATE OF DESIGNATION OF SERIES A PREFERRED STOCK OF HYPERSOLAR, INC.

Exhibit 4.1

 

 

 

BARBARA K. CEGAVSKE    
Secretary of State      
202 North Carson Street      
Carson City, Nevada ###-###-####
(775) 684-5708
  Filed in the office of Document Number

Website: www.nvsos.gov

  /s/ Barbara K. Cegavske 20180310057-37
  Barbara K. Cegavske Filing Date and Time
      Secretary of State 07/11/2018 8:33 AM
    State of Nevada Entity Number

Certificate of Designation

    E0084932009-4
(PURSUANT TO NRS 78. 1955)      
       

  

USE BLACK INK ONLY - DO NOT HIGHLIGHT ABOVE SPACE IS FOR OFFICE USE ONLY

 

Certificate of Designation For
Nevada Profit Corporations

(Pursuant to NRS 78.1955)

 

1.  Name of corporation:

HyperSolar Inc.

 

2. By resolution of the board of directors pursuant to provision in the articles of incorporation this certificate establishes the following regarding the voting powers, designations, preferences, limitations, restrictions and relative rights of the following class or series stock.

 

Pursuant to authority granted to and vested in the Board by the provisions of the articles of incorporation of this Corporation (the “Articles of Incorporation”) and the provisions of Section 78.1955 of the Nevada General Corporation Law, there hereby is created, out of five million (5,000,000) shares of preferred stock, par value $0.001 per share, of the Corporation authorized by the Articles of Incorporation, Series A Preferred Stock, consisting of one thousand (1,000) shares, which series shall have the following powers, designations, preferences and relative participating, optional and other special rights, and the following qualifications, limitations and restrictions. See Annex A.

 

3. Effective date of filling: (optional)  
    (must not be later than 90 days after the certificate is filed)

 

4. Signature: (required)

 

X  
Signature of Officer  

Filing Fee: $175.00

 

IMPORTANT: Failure to include any of the above information and submit with the proper fees may cause this filing to be rejected.

 

This form must be accompanied by appropriate fees.

 

Nevada Secretary of State Stock Designations

   

Revised: 1-5-15

 

 

 

 

CERTIFICATE OF DESIGNATION
OF
HYPERSOLAR INC.
ESTABLISHING THE DESIGNATIONS, PREFERENCES,
LIMITATIONS AND RELATIVE RIGHTS OF ITS
SERIES A PREFERRED STOCK

 

On behalf of HyperSolar, Inc., a Nevada corporation (the “Company”), the undersigned hereby certifies that the following resolution was been duly adopted by the board of directors of the Corporation (the “Board”) on July 10, 2018:

 

RESOLVED, that, pursuant to the authority granted to and vested in the Board by the provisions of the articles of incorporation of the Corporation (the “Articles of Incorporation”) and the provisions of Section 78.1955 of the Nevada General Corporation Law, there hereby is created, out of five million (5,000,000) shares of preferred stock, par value $0.001 per share, of the Company authorized by the Articles of Incorporation, Series A Preferred Stock, consisting of one thousand (1,000) shares, which series shall have the following powers, designations, preferences and relative participating, optional and other special rights, and the following qualifications, limitations and restrictions.

 

SECTION 1. DESIGNATION OF SERIES. The shares of such series shall be designated as the “Series A Preferred Stock” and the number of shares initially constituting such series shall be up to One Thousand (1,000) shares.

 

SECTION 2. DIVIDENDS. The holders of the Series A Preferred Stock shall not be entitled to receive dividends paid on the Common Stock.

 

SECTION 3. LIQUIDATION PREFERENCE. The holders of the Series A Preferred Stock shall not be entitled to any liquidation preference.

 

SECTION 4. VOTING. The holders of the Series A Preferred Stock will have the shareholder voting rights as described in this Section 4 or as required by law.

 

4.1 Voting Rights. For so long as any shares of the Series A Preferred Stock remain issued and outstanding, the holders thereof, by voting separately as a class, shall have the right to vote in an amount equal to ninety percent (90%) of the total vote with respect to any proposal relating to (a) any amendment to the Company’s Articles of Incorporation changing the name of the Company, (b) increasing the authorized share capital of the Company, (c) any amendment to the Company’s Bylaws, and (d) effecting any reverse stock split of the Company’s issued and outstanding shares of capital stock. Such vote shall be determined by the holder(s) of a majority of the then issued and outstanding shares of Series A Preferred Stock.

 

For example, if there are 10,000 shares of the Company’s common stock issued and outstanding at the time of such a shareholder vote, the holders of the Series A Preferred Stock, voting separately as a class, will have 90,000 votes, out of a total number of 100,000 shares voting.

 

4.2 Amendments to Articles and Bylaws. So long as the Series A Preferred Stock is outstanding, the Company shall not, without the affirmative vote of the holders of at least 66-2/3% of all outstanding shares of Series A Preferred Stock, voting separately as a class (i) amend, alter or repeal any provision of the Articles of Incorporation of the Bylaws of the Company so as to adversely affect the designations, preferences, limitations and relative rights of the Series A Preferred Stock, (ii) effect any reclassification of the Series A Preferred Stock, excluding a reverse stock split or forward split, or (iii) designate any additional series of preferred stock, the designations of which adversely effects the rights, privileges or limitations of the Series A Preferred Stock set forth herein.

 

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4.3 Amendment of Rights of Series A Preferred Stock. The Company shall not, without the affirmative vote of the at least 66-2/3% of all outstanding shares of the Series A Preferred Stock, amend, alter or repeal any provision of this Certificate of Designation, PROVIDED, HOWEVER, that the Company may, by any means authorized by law and without any vote of the holders of shares of the Series A Preferred Stock, make technical, corrective, administrative or similar changes in this Certificate of Designation that do not, individually or in t the aggregate, adversely affect the rights or preferences of the holders of shares of the Series A Preferred Stock.

 

SECTION 5. CONVERSION RIGHTS. The shares of the Series A Preferred Stock shall have no conversion rights.

 

SECTION 6. REDEMPTION RIGHTS. The shares of the Series A Preferred Stock shall be automatically, and without any required action by the Company or the holders thereof, redeemed by the Company at their par value on the first to occur of the following triggering events: (i) a date one hundred and twenty (120) days as after the effective date of this Certificate, (ii) on the date that Timothy Young ceases, for any reason, to serve as officer, director or consultant of the Company, it being understood that if Mr. Young continues without interruption to serve thereafter in one or more capacities as officer, director or consultant of the Company this shall not be considered a cessation of service, or (iii) on the date that the Company’s shares of common stock first trade on any national securities exchange is conditioned upon the elimination of the preferential voting rights of the Series A Preferred Stock set forth in this Certificate of Designation.

 

SECTION 7. NOTICES. Any notice required hereby to be given to the holders of shares of the Series A Preferred Stock shall be deemed given if deposited in the United States mail, postage prepaid, and addressed to each holder of record at his, her or its address appearing on the books of the Company.

 

SECTION 8. MISCELLANEOUS.

 

(a)The headings of the various sections and subsections of this Certificate of Designations are for convenience of reference only and shall not affect the interpretation of any of the provisions of this Certificate of Designation.
   
(b)Whenever possible, each provision of this Certificate of Designation shall be interpreted in a manner as to be effective and valid under applicable law and publish policy. If any provision set forth herein is held to be invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or otherwise adversely affecting the remaining provisions of this Certificate of Designation. No provision herein set forth shall be deemed dependent upon any other provision unless so expressed herein. If a court of competent jurisdiction should determine that a provision of this Certificate of Designation would be valid or enforceable if a period of time were extended or shortened, then such court may make such change as shall be necessary to render the provision in question effective and valid under applicable law.
   
 (c)Except as may otherwise be required by law, the shares of the Series A Preferred Stock shall not have any powers, designations, preferences or other special rights, other than those specifically set forth in this Certificate of Designation.

 

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IN WITNESS WHEREOF, this Certificate of Designation has been executed by a duly authorized officer of the Company on this 10th day of July, 2018.

 

  HYPERSOLAR, INC.
   
  By: /s/ Timothy Young
  Name: Timothy Young
  Title: President, CEO, Acting CFO and Chairman

 

 

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