Founder Gains Super-Voting Control via Preferred Stock Sale for $1,000
GBUX sits 17% above its 52-week low of $0.003 on light trading volume (0.2× avg).
Summary
GIVBUX founder Kenyatto M. Jones acquired 1 million super-voting preferred shares for $1,000, gaining near-absolute control over the company's voting power.
Key Events · Corporate Governance and Compliance · GBUX
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Founder Acquires Super-Voting Shares
Kenyatto M. Jones, the founder, purchased 1,000,000 shares of Series C Preferred Stock on May 29, 2026.
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Nominal Consideration
The shares were acquired for $1,000 through the cancellation of debt owed by the company to Mr. Jones.
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Overwhelming Voting Control
Each Series C Preferred share carries 5,000 votes, granting the founder 5 billion votes and effective control over the company's decisions.
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Non-Convertible and Senior Rights
The preferred shares are not convertible to common stock and hold senior or equal liquidation preferences, further limiting common shareholder rights.
Analysis · GBUX · Trade & Services
GIVBUX, INC. sold 1 million shares of Series C Preferred Stock to its founder, Kenyatto M. Jones, for a nominal $1,000 debt cancellation. These shares carry 5,000 votes per share and are not convertible to common stock. This transaction effectively grants the founder overwhelming voting control, fundamentally altering the corporate governance structure and significantly diminishing the influence of common shareholders, especially given the company's ongoing financial distress and 'going concern' warnings.
At the time of this filing, GBUX was trading at $0.00 on OTC in the Trade & Services sector, with a market capitalization of approximately $384.9K. The 52-week trading range was $0.00 to $5.72. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.