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| RMHB Updates on Company’s Series A Preferred Stock |
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 Hot Stock to Watch |
Company: Rocky Mountain High Brands Inc. (OTCQB: RMHB)
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Last:
Price: 0.059
Change (%): + 0.0065 (12.38)
Volume: 782,009 |
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Rocky Mountain High Brands Files 8-K on Preferred A Voting Rights Rollback
DALLAS, July 17, 2017 (GLOBE NEWSWIRE) - Rocky Mountain High Brands, Inc. (OTCQB:RMHB), a fully reporting consumer goods company specializing in hemp-infused food and beverage products and a naturally high alkaline water, announced today that the Company filed a Form 8-K with the Securities and Exchange Commission on July 14, 2017.
The Board of Directors approved an amendment to the Certificate of Designation for its Series A Preferred Stock on July 14, 2017. The amendment changes the voting rights only of the Series A Preferred Stock from 1,200 votes for every share of Series A Preferred Stock to 400 votes for every share of Series A Preferred Stock. The voting rights were previously amended and increased on March 13, 2017 from 400 votes for every share to 1,200 votes for every share of Series A Preferred Stock. The action, taken by RMHB’s Board on July 14, 2017, provides holders of its Common Stock a stronger voice in the Company.
On July 5, 2017, RMHB’s Board of Directors approved a separate amendment to the Certificate of Designation for its Series A Preferred Stock. The amendment changed the conversion ratio of the Company’s Series A Preferred Stock from 1,200 shares of Common Stock for every share of Series A Preferred Stock to 100 shares of Common Stock for every share of Series A Preferred Stock. The conversion ratio was previously amended and increased on March 13, 2017 from 100 shares of Common Stock for every share of Series A Preferred Stock to 1,200 shares of Common Stock for every share of Series A Preferred Stock. This action, taken by RMHB’s Board on July 5, 2017, decreased the potential dilution of the Company’s Common Stock for our shareholder base.
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