Large Series A preferred position reported at Barrel Energy (BRLL)
Rhea-AI Filing Summary
Barrel Energy Inc. director and treasurer Johnson Alfeddie filed an initial Form 3 reporting his ownership in the company. He directly holds 1,250,000 shares of Series A Preferred Stock, with no common shares reported. Each preferred share is convertible into 1,000 common shares, for a total of 1,250,000,000 common shares issuable upon conversion, and also carries 1,000 voting rights. The preferred stock has no stated expiration date, and the conversion right is governed by the company’s Series A Preferred designation.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (3)
- F1. Represents 1,250,000 shares of Series A Preferred Stock directly owned by the Reporting Person. Each one share of Series A Preferred Stock is convertible into 1,000 shares of the Issuer's common stock, for an aggregate of 1,250,000,000 shares of common stock issuable upon conversion.
- F2. The Series A Preferred Stock has no stated expiration date. The conversion right is subject to the terms of the Series A Preferred designation of the Issuer, as amended.
- F3. Each share of Series A Preferred Stock also has 1,000 voting rights. The voting rights are included here for explanatory consistency with the designation but should be coded in EDGAR only as applicable.
Key Figures
Key Terms
Series A Preferred Stock financial
conversion right financial
voting rights financial
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FAQ
What does Johnson Alfeddie report owning in Barrel Energy (BRLL) on this Form 3?
He reports owning 1,250,000 shares of Series A Preferred Stock and no common shares. These preferred shares provide substantial potential economic and voting power through conversion and voting rights as described in the designation.
Does the Series A Preferred Stock in Barrel Energy (BRLL) have an expiration date?
The filing notes that the Series A Preferred Stock has no stated expiration date. The conversion right instead follows the terms of Barrel Energy’s Series A Preferred designation, as amended over time.
What voting rights are attached to Barrel Energy (BRLL) Series A Preferred Stock?
Each Series A Preferred share carries 1,000 voting rights. The filing explains these voting rights are shown for consistency with the designation, and EDGAR coding should only include them when applicable.
Is this Barrel Energy (BRLL) Form 3 reporting a new transaction or existing holdings?
The Form 3 reflects existing holdings, not a new buy or sell transaction. It records Johnson Alfeddie’s beneficial ownership, including his Series A Preferred Stock position and related conversion and voting terms.