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Cyberloq Technologies, Inc. (OTCQB:CLOQ), a company based in Sarasota, Florida, has announced a significant amendment to its articles of incorporation. With a market capitalization of $26.75 million and currently trading at $0.20 per share, the company has seen its stock decline over 30% year-to-date. According to InvestingPro analysis, the stock appears overvalued at current levels. This change, approved by a majority of the company’s voting securities, involves the creation of a new class of stock, the Series B Preferred Stock. This development was reported in a recent Securities and Exchange Commission (SEC) filing.
According to the filing, the Series B Preferred Stock will consist of 50,000 shares, each with a par value of $0.001. The Series B Preferred Stock has been designed with specific rights, preferences, privileges, and restrictions. InvestingPro data reveals the company faces significant financial challenges, with a weak overall financial health score and a concerning current ratio of 0.03, indicating potential liquidity issues.
The stated capital for each share of the Series B Preferred Stock is set at its par value. Importantly, holders of this stock class will not have voting rights and will not be entitled to receive notices of shareholder meetings or vote on matters submitted to shareholders.
In terms of financial returns, the holders of the Series B Preferred Stock will not be entitled to dividends, whether in cash, stock, or other forms. This aligns with the company’s current financial position, as InvestingPro analysis shows the company is not profitable over the last twelve months, with negative earnings per share of -$0.01. However, the stock includes conversion rights in the event of a company sale. If Cyberloq Technologies undergoes a sale, merger, acquisition, or sells all or a significant portion of its assets, each share of Series B Preferred Stock will automatically convert into 1,000 shares of the company’s common stock immediately before the sale’s completion.
The filing also outlines that in the event of liquidation, dissolution, or winding-up of the company, holders of the Series B Preferred Stock will not have any liquidation preference over other classes or series of shares. They will receive an amount equivalent to what was paid on the shares, on par with common shareholders and other equal-ranking shares.
Cyberloq Technologies has stated that the Series B Preferred Stock will not have any additional rights, privileges, or preferences beyond those specified in the certificate of designation or as required by law.
This information is based on the company’s SEC filing dated May 29, 2025, and signed by Christopher Jackson, President of Cyberloq Technologies.
In other recent news, CyberloQ Technologies has achieved the SOC 2 Type I certification, as confirmed by an independent audit. This certification, granted by the American Institute of Certified Public Accountants, validates CyberloQ’s security measures, including availability, processing integrity, confidentiality, and privacy controls. Alongside this achievement, CyberloQ has also filed a second patent application with the United States Patent and Trademark Office, focusing on fraud prevention technology within the Medicare and Medicaid sectors. The company’s Secure Multi-Factor Authentication technology is currently in a patent-pending status under two provisional patent applications. While the patent is pending, it does not guarantee eventual approval, and the final patent may have narrower claims than initially proposed. CyberloQ’s recent developments underscore its commitment to enhancing service offerings and maintaining high operational standards. Additionally, the company is working towards obtaining the SOC 2 Type II certification, further solidifying its dedication to system security.
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