Summary by Moomoo AI
Mobiquity Technologies, Inc., a company incorporated in New York, reported on January 3, 2024, that it had filed an amendment to its Certificate of Incorporation on December 28, 2023. The amendment pertains to the designation of the rights and preferences of its 770,000 shares of Series H Preferred Stock. According to the filing, each share of Series H Preferred Stock is convertible into ten shares of the company's Common Stock at $0.20 per Common Share. This conversion can occur at any time after issuance at the discretion of the Preferred Shareholders. Additionally, the Series H Preferred Stock will automatically convert at the same ratio if the company's Common Stock reaches a closing sales price of over $2.00 per share for ten consecutive trading days or by December 31, 2026, whichever comes first. The detailed rights, preferences, and privileges of the Series H Preferred Stock are outlined in exhibit 3.1 of the report.