Mitesco, Inc. Files 8-K with Security Holder Rights Updates
Ticker: MITI · Form: 8-K · Filed: May 21, 2024 · CIK: 802257
Sentiment: neutral
Topics: corporate-action, filing, rights
TL;DR
MITESCO files 8-K: Security holder rights modified, financial docs included. Check it out.
AI Summary
Mitesco, Inc. filed an 8-K on May 21, 2024, reporting events as of May 17, 2024. The filing indicates material modifications to the rights of security holders and includes financial statements and exhibits. The company, formerly known as True Nature Holding, Inc., is incorporated in Nevada and operates in the health services sector.
Why It Matters
This 8-K filing signals potential changes affecting Mitesco, Inc.'s shareholders, requiring careful review of the disclosed modifications to their rights.
Risk Assessment
Risk Level: low — This filing is a standard 8-K reporting routine corporate events and disclosures, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- Mitesco, Inc. (company) — Registrant
- True Nature Holding, Inc. (company) — Former Company Name
- May 17, 2024 (date) — Earliest event reported date
- May 21, 2024 (date) — Filing date
- Nevada (jurisdiction) — State of Incorporation
FAQ
What specific material modifications to the rights of security holders are detailed in this 8-K filing?
The filing indicates 'Material Modifications to Rights of Security Holders' as an item information, but the specific details of these modifications are not provided in the excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on May 17, 2024.
What is Mitesco, Inc.'s former company name?
Mitesco, Inc.'s former company name was True Nature Holding, Inc.
In which state is Mitesco, Inc. incorporated?
Mitesco, Inc. is incorporated in Nevada.
What is the primary business sector for Mitesco, Inc. according to the filing?
According to the filing, Mitesco, Inc. operates in the SERVICES-HEALTH SERVICES sector.
Filing Stats: 1,015 words · 4 min read · ~3 pages · Grade level 13.5 · Accepted 2024-05-21 10:31:45
Key Financial Figures
- $220,000 — es which will result in savings of over $220,000 per month in accrued interest expense.
Filing Documents
- mitesco20240520_8k.htm (8-K) — 37KB
- ex_676925.htm (EX-3.1) — 22KB
- 0001185185-24-000570.txt ( ) — 194KB
- miti-20240517.xsd (EX-101.SCH) — 3KB
- miti-20240517_def.xml (EX-101.DEF) — 10KB
- miti-20240517_lab.xml (EX-101.LAB) — 19KB
- miti-20240517_pre.xml (EX-101.PRE) — 10KB
- mitesco20240520_8k_htm.xml (XML) — 3KB
03
Item 3.03 Material Modification to Rights of Security Holders Mitesco, Inc, ("the Company") has issued and outstanding 22,221 shares of Series F Preferred Shares as of March 31, 2024. The Company has implemented the following changes which will result in savings of over $220,000 per month in accrued interest expense. The holders of approximately 54.90% of the Series F Preferred shares, having met in person on May 8, 2024, have granted consent to the following modification to the terms of the Series F Preferred, executed in writing by all parties on May 17, 2024: Effective May 15, 2024 all dividends, and any obligation to pay dividends shall cease. Any dividends accrued until May 15, 2024 shall be issued as noted in the original certificate of designation, a copy of which can be found in these filings with the SEC: The original filings in Delaware: https://www.sec.gov/ix?doc=/Archives/edgar/data/802257/000118518523000367/mitesco20230417_8k.htm Same detail as noted when the Company redomiciled to Nevada in 2023: https://www.sec.gov/ix?doc=/Archives/edgar/data/802257/000118518523001074/mitesco20231016_8k.htm The original dividend policy can be found here: 4. Dividends . Holders of shares of the Series F Preferred Stock are entitled to receive, on each Dividend Payment Date, whether or not declared, set aside for payment or otherwise authorized by the Board of Directors, payment-in-kind dividends payable to the holder(s) of Series F Preferred Stock only in additional shares of Series F Preferred Stock ( " PIK Dividends " ) at the quarterly rate of three-hundredths (3/100 th ) of one share per outstanding Series F Share (equivalent to one-quarter (1/4) of 12% per annum per Series F Share) (the " Quarterly Dividend Rate " ). Such PIK Dividends: (i) shall accrue on the outstanding Series F Preferred Shares commencing on the Original Issue Date to the first Dividend Payment Date thereafter (the " Initial Dividend Payment Date " ) and, thereafter, on each Divid
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibits Description 3.1 Form of Agreement Modifying the Series F Preferred stock terms 104 Cover Page Interactive Data File (formatted as Inline XBRL) 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. Dated: May 21, 2024 MITESCO, INC. By: /s/ Mack Leath Mack Leath Chairman and CEO