UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (date of earliest event reported): September 14, 2014
Blue Water Global Group, Inc.
(Exact name of registrant as specified in its charter)
| | |
Nevada (State or other jurisdiction of incorporation) | 333-174557 (Commission File Number) | 45-0611648 (I.R.S. Employer Identification Number) |
Wellsburg Street #7, Cole Bay, St. Maarten, Dutch West Indies
(Address of principal executive offices and zip code)
Tel: (949) 264-1475, Fax: (949) 607-4052
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule I4a-12 under the Exchange Act (17CFR240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Forward Looking Statements
This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively, Filings) contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, our management as well as estimates and assumptions made by our management. When used in the filings the words anticipate, believe, estimate, expect, future, intend, plan or the negative of these terms and similar expressions identify forward looking statements as they relate to our business or our management. Such statements reflect managements current view of our business with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the section of our Annual Report filed on Form 10-K entitled Risk Factors) relating to our industry, operations and results of operations, and other relevant aspects of our business. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
Although we believe the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements contained within this Form 8-K and elsewhere.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Amendment to Articles of Incorporation (Increase in Authorized Capital)
On September 14, 2015, Blue Water Global Group, Inc. (Blue Water) amended its Articles of Incorporation to increase its authorized capital. This was required to remain in compliance with certain debt covenants relating to some of Blue Waters outstanding convertible promissory notes.
Blue Water now has authorized capital stock of 5,000,000,000 shares comprised of 4,995,000,000 in common stock, $0.001 par value, and 5,000,000 in preferred stock, $0.001 par value.
Amendment to Certificate of Designation of Series A Preferred Stock
Simultaneous with amending the Articles of Incorporation, Blue Water amended the Certificate of Designation to its Series A Preferred Stock. The Amended Certificate of Designation to its Series A Preferred Stock increased the number of votes for each share of Series A Preferred Stock from 3,000 votes per share to 10,000 votes per share.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
Exhibit 3.10
Amendment to Articles of Incorporation dated September 14, 2015
Exhibit 3.11
Amended Certificate of Designation for Series A Preferred Stock dated
September 14, 2015
2
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BLUE WATER GLOBAL GROUP, INC.
Dated: September 17, 2015
By:
/s/ J. Scott Sitra
J. Scott Sitra
President and Chief Executive Officer
3
AMENDED CERTIFICATE OF DESIGNATION
OF
SERIES A PREFERRED STOCK
OF
BLUE WATER GLOBAL GROUP, INC.
A special meeting of the Board of Directors of the above referenced Corporation was held on September 14, 2015 at 5:00pm Atlantic Time (AT) at the Corporations headquarters. The undersigned, being duly authorized, hereby certifies that the following resolutions were duly adopted by the Board of Directors of the Corporation by unanimous consent on September 14, 2015:
Upon motion duly made and unanimously carried, it was:
RESOLVED, that the Corporation and Board of Directors does hereby fix and determine the rights, preferences, privileges, restrictions and other matters relating to the designation of the Corporations Series A Preferred Stock, $0.001 par value:
Designation and Amount.
This class of preferred stock shall be designated Series A Preferred Stock (Preferred Stock), $0.001 par value. The Corporations Board of Directors may issue up to one-million (1,000,000) shares of this Preferred Stock.
Rank.
The Preferred Stock shall rank superior to all other class of the Corporations classes of stock, including common and other future classes of preferred stock, if any now or hereafter issued as to distributions of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, including the payment of dividends.
Dividends.
The Preferred Stock is eligible for all legal dividends as may be approved by the Corporations Board of Directors. In the event a dividend is declared across multiple classes of stock, the amount of any dividend to be received by holders of the Preferred Stock shall be calculated on a fully-diluted, pro-rata basis with the other classes of stock participating in said dividend.
Voting Rights.
Holders of the Preferred Stock shall have the right to vote on any and all matters with holders of common stock (and other classes of preferred stock, if any) by aggregating votes into one (1) class of stock. Each share of Preferred Stock shall have ten-thousand (10,000) votes for any election or other vote placed before the shareholders of the Corporation, regardless if the vote is taken with or without a shareholders meeting. Holders of the Preferred Stock may not cumulate their votes in any voting matter.
Conversion.
After a minimum holding period of two (2) years from the date of issue, holders of shares of Preferred Stock may, at their sole option, convert all or a portion of their holdings of Preferred Stock into shares of the Corporations common stock at a ratio of one (1) share of Preferred Stock for one-thousand (1,000) shares of common stock. There is no requirement for holders to convert their holdings into shares of common stock.
Redemption by Corporation.
The Corporation has no redemption rights over the Preferred Stock.
and it was further
RESOLVED, that the officers of the Corporation shall be, and they hereby are, authorized, empowered and directed to take any and all steps, and to execute and deliver any and all instruments in connection with consummating the aforesaid transactions and in connection with carrying the foregoing resolutions into effect.
WITNESS my signature as of this 14th day of September, 2015.
/s/ J. Scott Sitra
J. Scott Sitra
President, Treasurer, Secretary and Sole Director
- 2 -
AMENDMENT TO ARTICLES OF INCORPORATION
OF
BLUE WATER GLOBAL GROUP, INC.
Article III
The total number of shares of all classes of stock which the Corporation shall have the authority to issue is five-billion (5,000,000,000) shares, of which four-billion nine-hundred ninety-five million (4,995,000,000) shares, par value of one-tenth of one cent ($0.001) per share, shall be of a class designated "Common Stock" and five-million (5,000,000) shares, par value of one-tenth of one cent ($0.001) per share, shall be of a class designated "Preferred Stock". The express terms and provisions of the shares of each class of stock are as follows:
COMMON STOCK
Noncumulative, Common Stock at a par value of one-tenth of one cent ($0.001) per share
(1)
Dividends. Subject to all of the rights of the other classes of stock, the holders of Common Stock shall be entitled to receive, when, and if declared by the Board of Directors of the Corporation (Board of Directors), out of funds legally available therefore, dividends payable in cash, stock or otherwise;
(2)
Voting Rights. Each share of Common Stock has one (1) vote on each matter on which the share is entitled to vote. Shareholders may not cumulate their votes for any voting matter;
(3)
Liquidation. Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary, and after the holders of any issued and outstanding classes of Preferred Stock have been paid in full for the amounts to which they respectively shall be entitled or a sum sufficient for such payment in full shall have been set aside, the remaining net assets of the Corporation shall be distributed pro rata to the holders of Common Stock in accordance with their respective rights and interests, to the exclusion of the holders of any issued and outstanding classes of Preferred Stock;
(4)
Preemptive Rights. No shareholder of the Corporation holding Common Stock shall have any preemptive or other right to subscribe for any additional unissued or treasury shares of stock or for other securities of any class, or for rights, warrants or options to purchase stock, or for scrip, or for securities of any kind convertible into stock or carrying stock purchase warrants or privileges unless so authorized by the Board of Directors; and
(5)
Other Rights. The holders of shares of Common Stock shall have any other rights as are established by the Board of Directors and provided for by law.
PREFERRED STOCK
(1)
The Board of Directors is authorized, subject to applicable law and the provisions of this Article III, to provide for the issuance from time to time in one or more series of any number of shares of Preferred Stock, and to establish the number of shares to be included in each such series, and to fix the designation, relative rights, preferences, qualifications and limitations of the shares of each such series. The authority
- 1 -
Amendment to Articles of Incorporation
Blue Water Global Group, Inc.
of the Board of Directors with respect to each series shall include, but not be limited to, determination of the following:
(a)
the distinctive designation and number of shares comprising such series, which number may (except where otherwise provided by the Board of Directors in creating such series) be increased or decreased (but not below the number of shares then outstanding) from time to time by like action of the Board of Directors;
(b)
the dividend rate or rates on the shares of such series and the preferences, if any, over any other series (or of any other series over such series) with respect to dividends, the terms and conditions upon which and the periods in respect of which dividends shall be payable, whether and upon what conditions such dividends shall be cumulative and, if cumulative, the date or dates from which dividends shall accumulate;
(c)
the voting powers, full or limited, if any, of shares of such series, and under what conditions, if any, the shares of such series (alone or together with the shares of one or more other series having similar provisions) shall be entitled to vote separately as a class for the election of one or more directors of the Corporation in case of dividend arrearages or other specified events or upon other matters;
(d)
whether the shares of such series shall be redeemable, the limitations and restrictions with respect to such redemptions, the time or times when, the price or prices at which and the manner in which such shares shall be redeemable, including, but not limited to, the manner of selecting shares of such series for redemption if less than all shares are to be redeemed;
(e)
the rights to which the holders of shares of such series shall be entitled, and the preferences, if any, over any other series (or of any other series over such series), upon the voluntary or involuntary liquidation, dissolution, distribution of assets or winding up of the Corporation, which rights may vary depending on whether such liquidation, dissolution, distribution or winding up is voluntary or involuntary, and, if voluntary, may vary at different dates;
(f)
whether the shares of such series shall be subject to the operation of a purchase, retirement or sinking fund, and, if so, whether and upon what conditions such purchase, retirement or sinking fund shall be cumulative or noncumulative, the extent to which and the manner in which such fund shall be applied to the purchase or redemption of the shares of such series, including, but not limited to, the price or prices at which the shares may be purchased or redeemed, or to other corporate purposes and the terms and provisions relative to the operation thereof;
(g)
whether the shares of such series shall be convertible into or exchangeable for shares of stock of any other class or classes, or of any other series of the same class, and, if so convertible or exchangeable, the price or prices or the rate or rates of conversion or exchange and the method, if any, of adjusting the same, and any other terms and conditions of such conversion or exchange;
(h)
whether the issuance of additional shares of Preferred Stock shall be subject to restrictions as to issuance, or as to the powers, preferences or other rights of any other series;
(i)
the right of the shares of such series to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary, upon the issuance of any additional stock (including additional shares of such series or any other series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any subsidiary of, any outstanding stock of the Corporation; and
- 2 -
Amendment to Articles of Incorporation
Blue Water Global Group, Inc.
(j)
any other preferences, privileges and powers, and relative participating, optional or other special rights, and qualifications, limitations or restrictions of such series, as the Board of Directors may deem advisable and as shall not be inconsistent with applicable law or the provisions of these Articles of Incorporation, as amended from time to time.
(2)
Shares of Preferred Stock which have been issued and reacquired in any manner by the Corporation (excluding until the Corporation elects to retire them, shares which are held as treasury shares, including shares redeemed, shares purchased and retired and shares which have been converted) shall have the status of authorized but unissued shares of Preferred Stock and may be reissued as a part of the series of which they were originally a part or may be reissued as a part of another series of Preferred Stock, all subject to the conditions or restrictions on issuance set forth in the resolution or resolutions adopted by the Board of Directors providing for the issuance of any series of Preferred Stock.
(3)
The holders of Preferred Stock shall not have any preemptive rights except to the extent such rights shall be specifically provided for in the resolution or resolutions providing for the issuance thereof adopted by the Board of Directors.
Issuance of the classes of Common Stock and Preferred Stock. The Board of Directors of the Corporation may from time to time authorize by resolution the issuance of any or all shares of any class of the Common Stock and the Preferred Stock herein authorized in accordance with the terms and conditions set forth in these Articles of Incorporation. In such amounts, to such persons, corporations, or entities, for such consideration as the Board of Directors in its sole discretion may determine and without any vote or other action by the stockholders except as otherwise required by law. The Board of Directors, from time to time, also may authorize, by resolution, options, warrants and other rights convertible into Common or Preferred Stock (collectively "Securities"). The Securities must be issued for consideration of money, property, and/or services as the Board of Directors may deem appropriate, subject to the requirement that the value of such consideration be no less than the par value of the shares issued. Any shares issued for which the consideration so fixed has been paid or delivered shall be fully paid stock and the holder of such shares shall not be liable for any further call or assessment or any other payment thereon, provided that the actual value of such consideration is not less than the par value of the shares so issued.
The undersigned, being the Secretary of Blue Water Global Group, Inc., does make and file this certificate, hereby declaring and certifying that the facts herein are true, and accordingly have hereunto set my hand this 14th day of September, 2015.
/s/ J. Scott Sitra
J. Scott Sitra
Secretary
- 3 -
Amendment to Articles of Incorporation
Blue Water Global Group, Inc.
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