iWallet Corp Files 8-K on Bylaw Changes
Ticker: IWAL · Form: 8-K · Filed: May 24, 2024 · CIK: 1498372
| Field | Detail |
|---|---|
| Company | Iwallet Corp (IWAL) |
| Form Type | 8-K |
| Filed Date | May 24, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, filing, bylaws
TL;DR
iWallet Corp. filed an 8-K for bylaw changes and financial docs.
AI Summary
On May 21, 2024, iWallet Corp. filed an 8-K report detailing changes to its Articles of Incorporation and Bylaws. The company, formerly known as Queensridge Mining Resources, Inc. until August 5, 2010, is incorporated in Nevada and operates in the communications equipment sector. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates potential corporate restructuring or governance updates for iWallet Corp., which could impact its operational direction and shareholder value.
Risk Assessment
Risk Level: low — The filing is a routine corporate disclosure and does not appear to contain significant negative news or immediate financial distress.
Key Numbers
- 000-56347 — SEC File Number (Identifies the company's filing history with the SEC.)
- 27-1830013 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- iWallet Corp (company) — Registrant
- Queensridge Mining Resources, Inc. (company) — Former company name
- May 21, 2024 (date) — Date of earliest event reported
- August 5, 2010 (date) — Date of former company name change
- NV (jurisdiction) — State of incorporation
- Reno, NV (location) — Principal executive offices address
- 858-610-2958 (phone_number) — Registrant's telephone number
FAQ
What specific amendments were made to iWallet Corp.'s Articles of Incorporation or Bylaws?
The filing indicates that amendments were made, but the specific details of these changes are not provided in the summary information of the 8-K.
What is the primary business of iWallet Corp.?
iWallet Corp. is classified under SIC code 3669, which pertains to Communications Equipment, NEC.
When did iWallet Corp. change its name from Queensridge Mining Resources, Inc.?
The company changed its name on August 5, 2010.
Where are iWallet Corp.'s principal executive offices located?
The principal executive offices are located at 401 Ryland St., Ste. 200A, Reno, NV 89502.
What is the significance of filing an 8-K on May 21, 2024?
Filing an 8-K on this date signifies that iWallet Corp. is reporting a material event, such as amendments to its governing documents or the inclusion of financial statements and exhibits, to the SEC.
Filing Stats: 635 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-05-24 11:13:23
Filing Documents
- iwal-20240521.htm (8-K) — 25KB
- iwal_ex31.htm (EX-3.1) — 13KB
- iwal_ex32.htm (EX-32) — 10KB
- iwalex31_1.jpg (GRAPHIC) — 127KB
- iwalex32_1.jpg (GRAPHIC) — 126KB
- 0001393905-24-000191.txt ( ) — 508KB
- iwal-20240521_def.xml (EX-101.DEF) — 2KB
- iwal-20240521_lab.xml (EX-101.LAB) — 13KB
- iwal-20240521_pre.xml (EX-101.PRE) — 8KB
- iwal-20240521.xsd (EX-101.SCH) — 2KB
- iwal-20240521_htm.xml (XML) — 3KB
03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On May 21, 2024, iWallet Corporation (the "Company") filed with the State of Nevada a Certificate of Designation designating 14,000,000 shares of its authorized preferred stock as Series A Preferred Stock, with each share of Series A preferred Stock having the following rights: (i) no voting rights; (ii) no dividend or liquidation preferences, but treated pari passu with the common stock; and (iii) conversion rights entitling the holder to convert each 1 share of Series A Preferred Stock into 1 share of common stock, subject to the following conversion limitations: (a) shares of Series A Preferred Stock are not convertible into common stock until at least 6 months following issuance, and (b) each holder is not permitted to convert per fiscal quarter more than 12.5% of its Series A Preferred Stock into common stock. On May 23, 2024, the Company filed with the State of Nevada a Certificate of Designation designating 1,000,000 shares of its authorized preferred stock as Series B Preferred Stock, with each share of Series B Preferred Stock having the following rights: (i) super-voting rights such that the outstanding shares of Series B Preferred Stock shall always have two-thirds of the total voting rights of the Company's capital stock; (ii) no dividend or liquidation rights; and (iii) no conversion rights (the Series B Preferred Stock is not convertible into common stock). The foregoing descriptions of the Certificates of Designations are qualified in their entirety by the full text of the Certificates of Designation, which are filed as Exhibits 3.1 and 3.2 to, and incorporated by reference in, this report.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description of Exhibit 3.1 Certificate of Designation, filed May 21, 2024 3.2 Certificate of Designation, filed May 23, 2024 104 Cover Page Interactive Data File (embedded within Inline XBRL document 2 SIGNATURE 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. IWALLET CORP Date: May 24, 2024 By: /s/ Steven Cabouli Steven Cabouli Chief Executive Officer 3