Powerdyne International (PWDY) Schedule 13D shows 86.2% potential ownership via Series D
Rhea-AI Filing Summary
Powerdyne International, Inc. (PWDY) disclosed a major ownership position by Arthur M. Read II in a Schedule 13D. Read reports beneficial ownership of 288,446,194 shares of common stock through his holdings of 2,180,000 shares of Series D Preferred Stock, which convert into restricted common shares. These securities were issued without cash consideration in connection with a contract, services rendered, forgiveness of debt, and partial satisfaction of a judgment against another shareholder.
The filing states that Read is deemed to hold 4,360,000,000 Shares via the Series D Preferred, representing approximately 86.2% of the 5,060,155,892 Shares expected to be outstanding following an Automatic Conversion Event, and of the 5,060,155,892 votes that may be cast. He has sole voting and dispositive power over his reported holdings. The shares are characterized as restricted securities under Rule 144. The filing also notes that Read has not been convicted in criminal proceedings or been subject to certain securities law judgments in the past five years.
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Insights
Schedule 13D reveals a concentrated potential control stake via preferred stock conversion.
The filing shows Arthur M. Read II as a key holder of 2,180,000 shares of Series D Preferred Stock in Powerdyne International, Inc. These preferred shares are convertible into 288,446,194 restricted common shares, forming his reported current beneficial ownership. The securities were issued for non-cash consideration tied to a contract, services, debt forgiveness, and partial satisfaction of a judgment.
Importantly, the document states that Read is deemed to hold 4,360,000,000 Shares through the Series D Preferred, representing about 86.2% of the 5,060,155,892 Shares that will be outstanding, and the same proportion of votes, following an Automatic Conversion Event. He has sole voting and dispositive power over these securities, which are restricted under Rule 144.
This structure concentrates a very high percentage of potential voting power in a single holder, which can significantly shape corporate decisions once the described conversion mechanics apply. Subsequent company disclosures and corporate actions will indicate how this ownership profile influences governance and strategic direction.