NEXT-ChemX (CHMX) Insider Filing: High-Vote Preferreds and Litigation Noted

Rhea-AI Filing Summary

John Michael Johnson, President and CFO and a director of NEXT-ChemX Corporation (CHMX), amended a Form 4 to report several transactions and holdings. The filing shows past common stock acquisitions (including 1,311,445 shares indirectly held, and additional direct purchases totaling 57,473 shares) and the issuance/purchase of 10,000 Series A Preferred and 10,000 Series F Preferred shares on 05/29/2024 and 09/23/2024 respectively. The Series A carries 500 votes per share and converts into 250 common shares; the Series F carries 1,000 votes per share and is stated as non-convertible in the text provided. The filing discloses an indirect ownership interest representing 5.5% of a private corporation that is the controlling shareholder of CHMX, which reportedly owns 23,844,448 shares; a separate Form 3 claim by Sparkie Properties LLC over 15,866,096 shares is noted as the subject of ongoing litigation in Texas. The amendment date is 10/02/2024 and the form is signed 10/01/2025.

Positive

• Disclosure of preferred terms (voting rights and Series A conversion ratio) gives shareholders specific structural details
• Reporting of multiple common stock transactions (dates and amounts) improves transparency about insider activity

Negative

• Ongoing litigation over claimed ownership by Sparkie Properties LLC creates uncertainty about the controlling shareholder registry
• Issuance of high-vote preferred shares (500x and 1,000x votes) may concentrate control without clear economic disclosure
• Incomplete pricing/amount formatting (subscription price shown as "$10,00") limits clarity on cash consideration

Insights

Financial Analyst

TL;DR Insider reported meaningful preferred issuances and mixed direct/common share activity; ownership concentration and litigation may affect shareholder dynamics.

The filing documents substantial insider-related positions: a large indirect stake tied to the controlling shareholder (5.5% interest in that private entity, which holds 23,844,448 CHMX shares) plus direct common stock holdings of 57,473 shares and an indirect holding of 1,311,445 common shares. Material corporate governance features include newly issued Series A and Series F preferred shares with significant voting multipliers (500x and 1,000x votes per share respectively) and conversion mechanics for Series A. These items could alter voting power and control but the filing provides no valuation, proceeds, or dilution calculations. The ongoing dispute over Sparkie Properties LLC's claimed ownership introduces uncertainty around the controlling shareholder registry, which complicates any straightforward capitalization or ownership analysis.

Corporate Governance Expert

TL;DR High-vote preferred issuances and unresolved ownership litigation raise governance and control concerns for CHMX shareholders.

The issuance/purchase of Series A (500 votes/share, convertible into 250 common shares) and Series F (1,000 votes/share, stated non-convertible) is notable because such voting multipliers can sharply concentrate control without proportional economic interest. Combined with the filing's disclosure of an indirect interest tied to the controlling shareholder and active litigation over claimed share ownership by Sparkie Properties LLC, these disclosures suggest potential shifts in voting control and contested shareholder registers. The filing lacks details on whether these preferred issuances were to related parties, the exact subscription price formatting shown, or the total authorized preferred pool; those gaps make it difficult to assess fairness or procedural compliance from this disclosure alone.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

JOHNSON JOHN MICHAEL

(Last) (First) (Middle)

1980 FESTIVAL PLAZA DRIVE, SUITE 300

(Street)

LAS VEGAS NV 89135

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEXT-ChemX Corporation. [ CHMX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT, CFO

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)
10/02/2024

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK	04/27/2021		J		1,311,445	A	$0	1,311,445	I	see note(1)
COMMON STOCK	06/17/2022		M		41,256	A	$1	41,256	D
COMMON STOCK	11/12/2022		M		16,217	A	$1	57,473	D
PREFERRED STOCK SERIES A(2)	05/29/2024		A		10,000	A	$0.001	10,000	D
PREFERRED STOCK SERIES F(3)	09/23/2024		A		10,000	A	$0.001	10,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The indirect beneficial ownership reflects an ownership interest of 5.5% of the share capital of a private corporation that is the controlling shareholder of NEXT-ChemX Corporation ("CHMX"), Nevada, the reporting issuer. The controlling shareholder owns a total of 23,844,448 shares in the reporting issuer. The reporting person is also an Officer and Director of the registered controlling shareholder. On September 5, 2024, Sparkie Properties LLC, a Delaware LLC ("Sparkie"), filed a Form 3 submittal. This filing alleged that Sparkie owned 15,866,096 shares of CHMX as beneficial owner. This representation is currently being litigated in the Texas Court of Appeals in Eastland, Texas. There is no final order adjudicating the ownership of the claimed securities.

2. A Subscription Agreement was issued to purchase 10,000 Series A Preferred Stock for $10,00. Each share of the Series A Preferred Stock is entitled to Five Hundred votes on any matter on which any of the shareholders are required or permitted to vote. Each Series A Preferred Share (par value $0.001) shall be convertible at any time from and after issuance into Two Hundred Fifty shares of the Corporation's Common Stock (par value $0.001). In the event that any shares of the Series A Preferred Stock are not converted into the Corporation's Common Stock on or before 5:00 P.M., Las Vegas, Nevada time January 1, 2026 then each such outstanding shares of the Series A Preferred Stock shall be automatically converted into Two Hundred Fifty (250) shares of the Corporation's Common Stock (par value $0.001).

3. A Subscription Agreement was issued to purchase 10,000 Series F Preferred Stock for $10,00. Each share of the Series F Preferred Stock is entitled to One Thousand votes on any matter on which any of the shareholders are required or permitted to vote. Each Series F Preferred Share (par value $0.001) shall not be convertible,

	/s/ John Michael Johnson	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did John Michael Johnson report on the CHMX Form 4/A?

He reported acquisitions and holdings including indirect ownership of 1,311,445 common shares, direct common holdings totaling 57,473 shares, and purchases of 10,000 Series A and 10,000 Series F preferred shares.

What voting rights and conversion terms were disclosed for the Series A and Series F preferred shares?

Series A Preferred carries 500 votes per share and converts into 250 common shares; Series F Preferred carries 1,000 votes per share and is described as non-convertible in the provided text.

How much of CHMX does the filing say the controlling shareholder owns?

The filing states the controlling shareholder owns 23,844,448 shares of CHMX and that the reporting person holds a 5.5% interest in the private corporation that is the controlling shareholder.

Is there any legal dispute noted in the Form 4/A?

Yes. The filing notes a Form 3 by Sparkie Properties LLC claiming 15,866,096 shares and states that ownership is currently being litigated in the Texas Court of Appeals in Eastland, Texas with no final adjudication reported.

When were the reported transactions dated and when was the amendment filed?

The earliest transaction date listed is 09/23/2024; the Form 4 was amended with an amendment date of 10/02/2024 and the signature shows 10/01/2025.