3Pocket Games Capitalization Clause Samples
The '3Pocket Games Capitalization' clause defines the ownership structure and distribution of shares or equity in 3Pocket Games. It typically outlines the total number of authorized shares, the classes of shares (such as common or preferred), and the allocation of these shares among founders, investors, and possibly employees. For example, it may specify that founders collectively own a certain percentage, while investors hold another portion. This clause ensures clarity regarding who owns what percentage of the company, which is essential for decision-making, profit distribution, and future fundraising.
3Pocket Games Capitalization. (a) An aggregate of (i) 499,000,000 shares of Pocket Games common Stock, $0.0001 par value per share (the “Pocket Games Common Stock”) are authorized for issuance under the Pocket Games Articles of Incorporation; and (ii) 1,000,000 shares of Pocket Games preferred stock, $0.0001 par value per share (the “Pocket Games Preferred Stock”) are authorized for issuance under the Pocket Games Articles of Incorporation. As at the date of this Agreement, an aggregate of (A) 24,989,929 shares of Pocket Games Common Stock, (B) 1,000 shares of Pocket Games Series A Preferred Stock, and (C) 480,000 shares of Pocket Games Series B Preferred Stock are issued and outstanding, and the Pocket Games Series B Preferred Stock is convertible into an additional 23,061,626 shares of Pocket Games Common Stock.
(b) Except as contemplated by Pocket Games Disclosure Schedule 4.3, there are not issued or outstanding any (i) subscription, option, call, warrant or right (whether or not currently exercisable) to acquire any shares of capital stock or other securities of Purchaser, (ii) security, instrument or obligation that is or may become convertible into or exchangeable for any shares of capital stock or other securities of Purchaser, (iii) Contract under which Purchaser is or may become obligated to sell or otherwise issue any shares of its capital stock or any other securities of Purchaser or (iv) condition or circumstance that may give rise to or provide a basis for the assertion of a claim by any Person to the effect that such Person is entitled to acquire or receive any shares of capital stock or other securities of Purchaser. Purchaser has not issued any debt securities which grant the holder thereof any right to vote on, or veto, any actions by Purchaser.