Additionally, on March 11, 2026, the Board of Directors approved the issuance of 4,500,000 shares of Series A Preferred Stock to Levi Jacobson, the company's sole officer and director. Each share of this preferred stock carries significant voting rights, with one share equating to one hundred votes on all matters submitted to a vote of the stockholders. Furthermore, these shares are convertible into one hundred shares of the company's common stock, subject to the terms outlined in the company's Amended and Restated Articles of Incorporation.
These actions reflect a strategic move by C2 Blockchain to raise capital and potentially strengthen its governance structure through the issuance of preferred stock. The company is classified as an emerging growth company, which may influence its financing strategies and regulatory obligations moving forward. The transactions are expected to have a small positive effect on the stock price, as they provide immediate liquidity and enhance the company's capital structure, although the overall impact may be limited due to the nature of the transactions and the current market conditions.