[Form 3] NightFood Holdings, Inc. Initial Statement of Beneficial Ownership
NightFood Holdings, Inc. (NGTF) reported the initial ownership of its President and Director as of April 29, 2025. The reporting person directly owns 485,000 shares of common stock.
In addition, the person holds 20,000 shares of Series C Convertible Preferred Stock, received on March 25, 2025 as compensation for prior independent contractor services. These preferred shares are convertible into 120,000,000 shares of common stock, vest based on specified company milestones, and are subject to a lock-up through March 25, 2026. Beginning April 1, 2026, up to 5,000 preferred shares may be transferred or sold, with an additional 500 shares per month released from lock-up through November 1, 2027. The filing notes it is late due to an inadvertent administrative error.
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FAQ
What does the NGTF Form 3 filing disclose about insider ownership?
The Form 3 shows that NightFood Holdings, Inc.'s President and Director beneficially owns 485,000 shares of common stock and 20,000 shares of Series C Convertible Preferred Stock, which are convertible into 120,000,000 common shares, subject to vesting and lock-up terms.
Who is the reporting person in NightFood Holdings (NGTF) Form 3 and what is their role?
The reporting person is identified as both a Director and an Officer of NightFood Holdings, Inc., serving as President. The filing is made by one reporting person.
How did the NGTF insider receive the Series C Convertible Preferred Stock?
The reporting person received 20,000 shares of Series C Convertible Preferred Stock on March 25, 2025 as compensation for services provided as an independent contractor before becoming an officer and director.
What are the conversion terms of the Series C Convertible Preferred Stock in NGTF?
Each share of Series C Convertible Preferred Stock is convertible into 6,000 shares of common stock, resulting in an underlying 120,000,000 common shares, subject to the terms of the Certificate of Designation.
What lock-up restrictions apply to the NGTF Series C Convertible Preferred Stock?
The Series C Convertible Preferred Stock is under a lock-up through March 25, 2026. Starting April 1, 2026, up to 5,000 preferred shares may be transferred or sold, with 500 additional shares per month released from lock-up through November 1, 2027.
Why does the NightFood (NGTF) Form 3 mention a late filing?
The filing states it is late due to an inadvertent administrative error and reflects the reporting person's beneficial ownership as of April 29, 2025, when they became subject to Section 16.