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Leet Technology Inc. (Leet INC), a prepackaged software services company, recently filed a Form 6-K with the Securities and Exchange Commission, revealing significant updates regarding its corporate structure and stock.
On January 11, 2023, Leet INC completed a merger with Leet Inc., a British Virgin Islands corporation, with Leet Inc. as the surviving entity. This merger, effective as of the same date, was executed under a Merger Agreement dated January 5, 2023. As a result of the merger, each share of Leet Technology Inc.’s common and preferred stock was converted into an equivalent share of Leet Inc., leading to the issuance of 151,096,262 Ordinary Shares and 6,898,256 Preferred Shares to the former shareholders of Leet Technology Inc.
Following the merger, Leet Inc.’s shares will be quoted on the OTC Market Group’s Pink marketplace under the symbol "LTESF" and the CUSIP number G5433N108 beginning April 29, 2025. It is important to note that shareholders are not required to exchange their existing share certificates for new ones post-merger. However, new stock certificates will be issued upon request or during any future transaction that necessitates such issuance.
Additionally, the company announced that it will start filing Current Reports on Form 6-K and Annual Reports on Form 20-F, starting with the report for the fiscal year 2025.
As of the date of the report, Mr. Dai Song is the principal shareholder, holding a 74.5% stake in the Ordinary Shares of Leet Inc., along with direct and indirect control over Series A and Series B preferred shares. The merger has not led to changes in the election of directors or other corporate matters.
The company’s amended and restated memorandum and articles of association provide details on the structure and rights associated with the various classes of shares post-merger, including voting rights and the process for shareholder meetings and voting.
This information is based on a press release statement filed with the SEC.
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