11/08/2024 | Press release | Distributed by Public on 11/08/2024 16:01
Item 1.01 Entry into a Material Definitive Agreement.
On November 4, 2024, Kuber Resources Corporation (the "Company") entered into a Stock Cancellation Agreement with Chuang Fu Qu Kuai Lian Technology (Shenzhen) Limited ("Chuang Fu"), for the cancellation of 150,000 shares of Series B Preferred Stock, $.001 par value per share (the "Series B Preferred Stock") which were issued to Chuang Fu in 2018, in exchange for $100.00 USD. The cancellation of the Series B Preferred Stock will enable the Company to have a more desirable capital stock structure.
Upon the cancellation of the Series B Preferred Stock the Company will have zero shares of Series B Preferred Stock issued and outstanding.
A copy of the Stock Cancellation Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K, and the descriptions of the material terms of the Stock Cancellation Agreement in this Item 1.01 are qualified in their entirety by reference to such Exhibit, which is incorporated herein by reference.