Nevada | 35-2618297 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
85 Broad Street, 16-079 New York, 10004 | (808) 829-1057 | |
(Address of principal executive offices including zip code) | (Registrant’s telephone number, including area code) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||
None | N/A | N/A |
Large accelerated Filer ¨ | Accelerated Filer ¨ |
Non-accelerated Filer x | Smaller reporting company x |
Emerging growth company x |
Page | |
i |
● | our ability to continue as a going concern; |
● | our anticipated needs for working capital, and our ability to secure additional financing on favorable terms, if at all; |
● | the demand for our products; |
● | our sales, marketing, and distribution prospects; |
● | our financial performance; |
● | the level of expenses related to our business development and operations; |
● | our efforts to expand our products, services and our business; |
● | the implementation of our business model and strategic plans for our business and technology; |
● | regulatory or legal developments in the ASEAN, Asia-Pacific Region, the United States, and other countries; |
● | our expectations regarding the effects of the COVID-19 pandemic on our business and our clients; and |
● | developments and projections relating to our competitors and our industry. |
ii |
1 |
2 |
3 |
4 |
● | Development of an end-to-end unified SaaS offering . We expect to unify all of our technology platforms into one framework to provide a streamlined user experience for customers to leverage all of our applications through a SaaS model. |
● | Expand our customer base and business relationships. Today, we are already installed in major media companies and technology platforms. We intend to increase the usage of our technology and deepen technology relationships to drive increased revenue. |
● | Focus on SMBs . We believe that there is a significant opportunity for an end-to-end advertising and marketing technology solution for SMBs seeking to grow their online sales without dealing with the many challenges of integrating multiple point solutions. We intend to continue to concentrate marketing our platforms to SMBs. |
● | Maintain innovation . We will continue to develop and introduce new features and improved functionality to our platforms. Key initiatives include development of easy-to-use self-serve platforms for SMBs, and continued development of AI-driven marketing technologies. |
(i) | Cooperation agreements in countries/regions where our partners are responsible for targeting SMBs either through an installed base of customers or groups of direct sellers with a sales and marketing team focusing on end customers. |
(ii) | Digital wallet or e-wallet solutions. A distinguishing characteristic of Greater South East Asia (“GSEA”) compared to the United States is the substantially lower percentage of the population in GSEA with bank accounts, credit cards, or debit cards. This creates the need for alternative payment methods, specifically e-wallets according to the International Data Corporation (“IDC”). GSEA is poised for its own payments transformation in much the same way that China has shifted to online payments. Online payments in GSEA is divided into four broad payment modes: e-wallets (such as our Paylogiq platform), credit cards, debit cards and online banking. Of these IDC experts, the e-wallet mode is expected to grow the fastest over the next five years. Drivers for GSEA’s e-wallet industry include the mismatch between internet penetration and banking penetration (which creates a structural opportunity for e-wallet), the increasing integration of e-wallets with use cases such as online games and e-commerce, and the opportunity to offer broader digital financial services using e-wallets as a foundation. |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
13 |
14 |
● | changes in the general global economy; |
● | changes in customer budget cycles; |
● | the number and scope of ongoing customer engagements; |
● | changes in the mix of our products and services; |
● | competitive pricing pressures; |
● | the extent of cost overruns; |
● | buying patterns of our customers; |
● | the timing of new product releases by us or our competitors; |
● | general economic factors, including factors relating to disruptions in the world credit and equity markets and the related impact on our customers’ access to capital; |
● | our earnings releases, actual or anticipated changes in our earnings, fluctuations in our operating results or our failure to meet the expectations of financial market analysts and investors; |
● | changes in financial estimates by us or by any securities analysts who might cover our stock; |
● | speculation about our business in the press or the investment community; |
● | significant developments relating to our relationships with our customers or suppliers; |
● | stock market price and volume fluctuations of other publicly traded companies and, in particular, those that are in our industry; |
● | customer demand for our business solutions; |
● | investor perceptions of our industry in general and our Company in particular; |
● | the operating and stock performance of comparable companies; |
● | announcements by us or our competitors of new products, significant acquisitions, strategic partnerships or divestitures; |
● | the timing and charges associated with completed acquisitions, divestitures, and other events; |
● | changes in accounting standards, policies, guidance, interpretation or principles; |
● | changes in tax laws, rules, regulations, and tax rates in the locations in which we operate; |
● | exchange rate fluctuations; |
● | loss of external funding sources; |
● | sales of our common stock, including sales by our directors, officers or significant stockholders; and |
● | addition or departure of key personnel. |
15 |
16 |
17 |
18 |
19 |
20 |
21 |
22 |
Name | Age | Position | ||
Brent Suen | 56 | Interim CEO, board director and Chairman of the Board | ||
John MacNeil | 61 | Treasurer, Corporate Secretary and Director | ||
Granger Whitelaw | 56 | Director | ||
Peter Bordes | 60 | Director | ||
Candice Beaumont | 54 | Director |
23 |
24 |
25 |
Name and Address of Beneficial Owner (1) | Shares (2) | Shares Underlying Convertible Securities | Total Shares (2) | Percent of Common Stock Beneficially Owned (2) | ||||||||||||
Directors and Executive Officers | ||||||||||||||||
Brent Suen | 1,061,703 | 0 | 1,061,703 | 2.2 | % | |||||||||||
John MacNeil | 724,614 | 0 | 724,614 | 1.5 | % | |||||||||||
Granger Whitelaw | 798,000 | 0 | 798,000 | 1.7 | % | |||||||||||
Peter Bordes | 0 | 0 | 0 | * | ||||||||||||
Candice Beaumont | 0 | 0 | 0 | * | ||||||||||||
All Directors and executive officers as a group (4 persons) | 2,584,317 | 0 | 2,584,317 | 5.3 | % | |||||||||||
5% Shareholders | ||||||||||||||||
Logiq, Inc. (3) | 4,500,000 | 0 | 4,500,000 | 9.3 | % |
* | Less than one percent. |
(1) | Except as otherwise indicated, the persons named in this table have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by them, subject to community property laws where applicable and to the information contained in the footnotes to this table. Unless otherwise indicated, the address of the beneficial owner is, 85 Broad Street, 16-079, NY, NY 10004. |
(2) | Pursuant to Rules 13d-3 and 13d-5 of the Exchange Act, beneficial ownership includes any shares as to which a shareholder has sole or shared voting power or investment power, and also any shares which the shareholder has the right to acquire within 60 days, including upon exercise of common shares purchase options or warrants. There are 48,351,365 shares of common stock issued and outstanding as of March 20, 2023. |
(3) | Logiq beneficially owns 4,500,000 shares of the Company that are held by Logiq’s wholly owned subsidiary, Gologiq LLC. |
26 |
27 |
* | The XBRL related information in Exhibit 101 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document |
28 |
GoLogiq, Inc. | ||
By: | /s/ Brent Suen | |
Brent Suen | ||
Chief Executive Officer |
NAME | TITLE | DATE | ||
/s/ Brent Suen | Chief Executive Officer (Principal Executive Officer & | March 27, 2023 | ||
Brent Suen | Principal Financial Officer) | |||
/s/ John MacNeil | Treasurer and Director | March 27, 2023 | ||
John MacNeil | ||||
/s/ Granger Whitelaw | Director | March 27, 2023 | ||
Granger Whitelaw | ||||
/s/ Peter Bordes | Director | March 27, 2023 | ||
Peter Bordes | ||||
/s/ Candice Beaumont | Director | March 27, 2023 | ||
Candice Beaumont | ||||
29 |
Page | |
F-1 |
中正達會計師事務所 Centurion ZD CPA & Co. Certified Public Accountants (Practising) | |
Unit 1304, 13/F, Two Harbourfront, 22 Tak Fung Street, Hunghom, Hong Kong. 香港 紅 磡 德豐街 22 號 海濱廣場二期 13 樓 1304 室 Tel 電話 : (852) 2126 2388 Fax 傳真 : (852) 2122 9078 | |
● | comparing the consistency and precision of the methodology used to determine the proper impairment indicators by management to the relevant requirements of generally accepted accounting principles (“GAAP”); |
● | considering current technology, economy or other industry changes through review of relevant industry publications, current news publications and Board of Directors’ meeting minutes, in order to evaluate the completeness of events or changes in circumstances identified by management as indicators that the software technology asset should be tested for recoverability. |
/s/ Centurion ZD CPA & Co | |
Centurion ZD CPA & Co. | |
Hong Kong | |
March 27, 2023 | |
We have served as the Company’s auditor since 2022 |
F-2 |
December 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
ASSETS | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | 35,254 | - | ||||||
Intangible assets, net | 8,968,000 | - | ||||||
Goodwill | 2,832,000 | - | ||||||
Prepaid expenses and deposits | - | 350 | ||||||
TOTAL ASSETS | 11,835,254 | 350 | ||||||
LIABILITIES AND STOCKHOLDER’S DEFICIT | ||||||||
Current Liabilities | ||||||||
Accounts payable and accrued liabilities | 1,321,483 | 20,500 | ||||||
Due to a related party | 788,045 | 22,493 | ||||||
Total Liabilities | 2,109,528 | 42,993 | ||||||
Stockholder’s Funds (Deficit) | ||||||||
Common stock Authorized: 200,000,000 shares of common stock, $0.001 par value 40,444,083 and 5,731,000 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively | 40,444 | 5,731 | ||||||
Preferred stock Authorized: 10,000,000 shares of preferred stock, 2,000,000 shares issued and outstanding as of December 31, 2022 and December 31, 2021 nil, respectively | 2,000 | - | ||||||
Additional paid-in capital | 34,003,212 | 17,234 | ||||||
Share subscriptions receivable | (58 | ) | (58 | ) | ||||
Accumulated d | (24,319,872 | ) | (65,550 | ) | ||||
Total Stockholder’s Funds (Deficit) | 9,725,726 | (42,643 | ) | |||||
TOTAL LIABILITIES AND STOCKHOLDER’S FUNDS (DEFICIT) | 11,835,254 | 350 |
F-3 |
|
Y ear ended |
|
|
Year ended |
|
|||
|
December 31, 2022 |
|
|
December 31, 2021 |
|
|||
|
$ |
|
|
$ |
|
|||
|
|
|
|
|
|
|
|
|
Service Revenue |
|
|
5,454,119 |
|
|
|
- |
|
Cost of Service |
|
|
3,382,954 |
|
|
|
- |
|
Gross Profit |
|
|
2,071,165 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Operating Expenses |
|
|
|
|
|
|
||
General and administrative |
|
|
3,503,764 |
|
|
|
27,800 |
|
Sales and marketing |
|
|
5,000 |
|
|
|
- |
|
Impairment loss |
|
|
19,700,000 |
|
|
|
- |
|
Research and development |
|
|
3,116,723 |
|
|
|
- |
|
Total Operating Expenses |
|
|
26,325,487 |
|
|
|
27,800 |
|
|
|
|
|
|
|
|
|
|
(Loss) from Operations |
|
|
(24,254,322 |
) |
|
|
(27,800 |
) |
|
|
|
|
|
|
|
|
|
Income tax (Corporate tax) |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Net (Loss) and Comprehensive (Loss) |
|
|
(24,254,322 |
) |
|
|
(27,800 |
) |
|
|
|
|
|
|
|
|
|
Basic and Diluted Net (Loss) per Common Share |
|
|
(0.708 |
) |
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
Weighted Average Number of Common Shares Outstanding |
|
|
34,269,899 |
|
|
|
5,731,000 |
|
F-4 |
Common Stock | Additional Paid-in | Share Subscription | Accumulated | Total Stockholders' | ||||||||||||||||||||
Number of Shares | Amount $ | Capital $ | Receivable $ | Deficit $ | Equity (Deficit) $ | |||||||||||||||||||
Balance, December 31, 2019 | 4,500,000 | 4,500 | - | - | (11,728 | ) | (7,228 | ) | ||||||||||||||||
Common stock issued for cash | 1,231,000 | 1,231 | 17,234 | (58 | ) | - | 18,407 | |||||||||||||||||
Net (loss) for the year | - | - | - | - | (26,022 | ) | (26,022 | ) | ||||||||||||||||
Balance, December 31, 2020 | 5,731,000 | 5,731 | 17,234 | (58 | ) | (37,750 | ) | (14,843 | ) | |||||||||||||||
Issuance of Shares | - | - | - | - | - | - | ||||||||||||||||||
Net (loss) for the year | - | - | - | - | (27,800 | ) | (27,800 | ) | ||||||||||||||||
Balance, December 31, 2021 | 5,731,000 | 5,731 | 17,234 | (58 | ) | (65,550 | ) | (42,643 | ) | |||||||||||||||
Issuance of Shares | 27,493,235 | 29,494 | 33,989,097 | - | - | 34,018,591 | ||||||||||||||||||
Issuance of Shares for service | 7,219,848 | 7,219 | (3,119 | ) | - | - | 4,100 | |||||||||||||||||
Net (loss) for the year | - | - | - | - | (24,254,322 | ) | (24,254,322 | ) | ||||||||||||||||
Balance, December 31, 2022 | 40,444,083 | 42,444 | 34,003,212 | (58 | ) | (24,319,872 | ) | 9,725,726 |
F-5 |
Year ended | Year ended | |||||||
December 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
OPERATING ACTIVITIES | ||||||||
Net (Loss) for the Period | (24,254,322 | ) | (27,800 | ) | ||||
Issuance of shares for service received | 1,954,962 | - | ||||||
Changes in Operating Assets and Liabilities: | ||||||||
Prepaid expense and deposits | 350 | 355 | ||||||
Accounts payable and accrued liabilities | 1,300,983 | 20,500 | ||||||
Impairment loss | 19,700,000 | - | ||||||
Net Cash (Used in) Operating Activities | (1,298,027 | ) | (6,945 | ) | ||||
FINANCING ACTIVITIES | ||||||||
Preferred stock issuance | 20,000 | - | ||||||
Due to related party | 1,313,281 | 2,268 | ||||||
Net Cash Provided by Financing Activities | 1,333,281 | 2,268 | ||||||
Change in Cash | 35,254 | (4,677 | ) | |||||
Cash, Beginning of Year | - | 4,677 | ||||||
Cash, End of Year | 35,254 | - | ||||||
NON-CASH TRANSACTION | ||||||||
Issuance of shares for services received | 1,954,962 | - |
F-6 |
F-7 |
F-8 |
F-9 |
|
($) |
|
||
Intangible assets, net |
|
|
24,000,000 |
|
Goodwill |
|
|
7,500,000 |
|
Net assets acquired |
|
|
31,500,000 |
|
Less : Impairment loss |
|
|
19,700,000 |
|
Net Value |
|
|
11,800,000 |
|
F-10 |
|
|
2022 $ |
|
|
2021 $ |
|
||
|
|
|
|
|
|
|
||
Income tax recovery at statutory rate |
|
|
5,093,408 |
|
|
|
5,838 |
|
Change in valuation allowance |
|
|
(5,093,408 |
) |
|
|
(5,838 |
) |
Income tax provision |
|
|
- |
|
|
|
- |
|
|
|
2022 $ |
|
|
2021 $ |
|
||
|
|
|
|
|
|
|
||
Net operating losses carried forward |
|
|
5,107,174 |
|
|
|
13,766 |
|
Valuation allowance |
|
|
(5,107,174 |
) |
|
|
(13,766 |
) |
Net deferred income tax asset |
|
|
- |
|
|
|
- |
|
A. |
GammaRev |
B. |
Nest E |
F-11 |
Exhibit 3.3
FIRST AMENDED AND RESTATED
ARTICLES OF INCORPORATION
OF
LOVARRA
(A NEVADA CORPORATION)
Lovarra, a corporation organized and existing under the laws of the State of Nevada (the “Corporation”), hereby certifies as follows:
1. The name of the Corporation is Lovarra. The original Articles of Incorporation of the Corporation were filed with the Office of the Secretary of State of the State of Nevada on January 29, 2018.
2. These First Amended and Restated Articles of Incorporation were duly adopted in accordance with Sections 78.390, 78.385 and 78.403 of the Nevada Revised Statutes, and restate, integrate and further amend the provisions of the Corporation’s existing Articles of Incorporation.
3. These First Amended and Restated Articles of Incorporation of the Corporation were duly approved by a vote of the stockholders of the Corporation in accordance with the provisions of Section 78.390 of the Nevada Revised Statutes.
4. Immediately prior to the effective time of these First Amended and Restated Articles of Incorporation, the Corporation has authorized one hundred and forty million (140,000,000) shares of common stock, par value S0.001 per share (“Common Stock”), of which, 35,701,756 shares of Common Stock arc issued and outstanding.
5. The text of the original Articles of Incorporation of the Corporation is hereby amended and restated to read in its entirety as follows:
ARTICLE I
NAME
The name of the corporation is GoLogiq, Inc. (the “Corporation”).
ARTICLE 2
DURATION
The duration of the Corporation’s existence shall be perpetual.
ARTICLE 3
PURPOSE
The nature of the business of the Corporation and the objects or purposes to be transacted, promoted, or carried on by it arc as follows: To engage in any lawful act or activity for which corporations may be organized under Chapter 78 of the Nevada Revised Statutes (the “NRS”). The Corporation shall also have the authority to engage in any and all such activities as arc incidental or conducive to the attainment of the purpose or purposes of this Corporation.
1 |
ARTICLE 4
CAPITAL STOCK
Section 4.1 Authorized Shares. The aggregate number of shares which the Corporation shall have authority to issue is two hundred ten million (210,000,000) shares, consisting of two classes to be designated, respectively, “Common Stock” and “Preferred Stock”, with all of such shares having a par value of $0,001 per share. The total number of shares of Common Stock that the Corporation shall have authority to issue is two hundred million (200,000,000) shares. The total number of shares of Preferred Stock that the Corporation shall have authority to issue is ten million (10,000,000) shares. The Preferred Stock may be issued in one or more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance of any shares thereof. The voting powers, designations, preferences, limitations, restrictions, and relative, participating, optional and other rights, and the qualifications, limitations, or restrictions thereof, of the Preferred Stock shall hereinafter be prescribed by resolution of the board of directors pursuant to Section 4.3 of this Article 4.
Section 4.2 Common Stock.
(a) Dividend Rate. Subject to the rights of holders of any Preferred Stock having preference as to dividends and except as otherwise provided by these First Amended and Restated Articles of Incorporation, as amended from time to time (hereinafter, the “Articles”) or the NRS, the holders of Common Stock shall be entitled to receive dividends when, as and if declared by the board of directors out of assets legally available therefor.
(b) Voting Rights.
(i) Except as otherwise provided by the NRS, the holders of the issued and outstanding shares of Common Stock shall be entitled to one vote for each share of Common Stock. No holder of shares of Common Stock shall have the right to cumulate votes.
(ii) Except as otherwise required in these Articles, the holders of the issued and outstanding shares of Common Stock shall vote together as a single class on all matters (or, if any holders of Preferred Stock are entitled to vote together with the holders of Common Stock, as a single class with such holders of Preferred Stock).
(iii) The holders of the issued and outstanding shares of Common Stock, as such, shall not be entitled to vote on any amendment to these Articles or to a certificate of designation of Preferred Stock that alters or changes the powers, preferences, rights or other terms of one or more outstanding class or series of Preferred Stock if the holders of such affected class or series are entitled, cither separately or together with the holders of one or more other class or series of Preferred Stock, to vote thereon as a separate class pursuant to these Articles or a certificate of designation of Preferred Stock or pursuant to the NRS as currently in effect or as the same may hereafter be amended.
(c) Liquidation Rights. In the event of liquidation, dissolution, or winding up of the affairs of the Corporation, whether voluntary or involuntary, subject to the prior rights of holders of Preferred Stock to share ratably in the Corporation’s assets, the Common Stock and any shares of Preferred Stock which are not entitled to any preference in liquidation shall share equally and ratably in the Corporation’s assets available for distribution after giving effect to any liquidation preference of any shares of Preferred Stock. A merger, conversion, exchange or consolidation of the Corporation with or into any other person or sale or transfer of all or any part of the assets of the Corporation (which shall not in fact result in the liquidation of the Corporation and the distribution of assets to stockholders) shall not be deemed to be a voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation.
2 |
(d) No Conversion, Redemption, or Preemptive Rights. The holders of Common Stock shall not have any conversion, redemption, or preemptive rights.
(e) Consideration for Shares. The Common Stock authorized by these Articles shall be issued for such consideration as shall be fixed, from time to time, by the board of directors.
Section 4.3 Preferred Stock.
(a) Designation. The board of directors is hereby vested with the authority from time to time to provide by resolution for the issuance of shares of Preferred Stock in one or more series not exceeding the aggregate number of shares of Preferred Stock authorized by these Articles, and to prescribe with respect to each such scries the voting powers, if any, designations, preferences, and relative, participating, optional, or other special rights, and the qualifications, limitations, or restrictions relating thereto, including, without limiting the generality of the foregoing: the voting rights relating to the shares of Preferred Stock of any series (which voting rights, if any, may be full or limited, may vary over time, and may be applicable generally or only upon any stated fact or event); the rate of dividends (which may be cumulative or noncumulative), the condition or time for payment of dividends and the preference or relation of such dividends to dividends payable on any other class or series of capital stock; the rights of holders of Preferred Stock of any series in the event of liquidation, dissolution, or winding up of the affairs of the Corporation; the rights, if any, of holders of Preferred Stock of any series to convert or exchange such shares of Preferred Stock of such series for shares of any other class or series of capital stock or for any other securities, property, or assets of the Corporation or any subsidiary (including the determination of the price or prices or the rate or rates applicable to such rights to convert or exchange and the adjustment thereof, the time or times during which the right to convert or exchange shall be applicable, and the time or times during which a particular price or rate shall be applicable); whether the shares of any series of Preferred Stock shall be subject to redemption by the Corporation and if subject to redemption, the times, prices, rates, adjustments and other terms and conditions of such redemption. The powers, designations, preferences, limitations, restrictions and relative rights may be made dependent upon any fact or event which may be ascertained outside these Articles or the resolution if the manner in which the fact or event may operate on such series is stated in these Articles or resolution. As used in this section, “fact or event” includes, without limitation, the existence of a fact or occurrence of an event, including, without limitation, a determination or action by a person, government, governmental agency or political subdivision of a government. The board of directors is further authorized to increase or decrease (but not below the number of such shares of such Series then outstanding) the number of shares of any series subsequent to the issuance of shares of that series. Unless the board of directors provides to the contrary in the resolution which fixes the characteristics of a series of Preferred Stock, neither the consent by series, or otherwise, of the holders of any outstanding Preferred Stock nor the consent of the holders of any outstanding Common Stock shall be required for the issuance of any new series of Preferred Stock regardless of whether the rights and preferences of the new series of Preferred Stock are senior or superior, in any way, to the outstanding series of Preferred Stock or the Common Stock.
(b) Certificate. Before the Corporation shall issue any shares of Preferred Stock of any series, a certificate of designation setting forth a copy of the resolution or resolutions of the board of directors, and establishing the voting powers, designations, preferences, the relative, participating, optional, or other rights, if any, and the qualifications, limitations, and restrictions, if any, relating to the shares of Preferred Stock of such series, and the number of shares of Preferred Stock of such series authorized by the board of directors to be issued shall be made and signed by an officer of the Corporation and filed in the manner prescribed by the NRS.
Section 4.4 Non-Assessment of Stock. The capital stock of the Corporation, after the amount of the subscription price has been fully paid, shall not be assessable for any purpose, and no stock issued as fully paid shall ever be assessable or assessed, and these Articles shall not be amended in this particular. No stockholder of the Corporation is individually liable for the debts or liabilities of the Corporation.
3 |
Section 4.5 General.
(a) No stockholder has any right or will be permitted to cumulate votes in any election of directors.
(b) Shares of one class or series of stock may be issued as a share dividend in respect of another class or series, Section 78.215(4) of the NRS notwithstanding.
ARTICLE 5
BOARD OF DIRECTORS
(a) The business of the Corporation shall be managed by a board of directors.
(b) Subject to the rights of the holders of any class or series of Preferred Stock to elect additional directors under specified circumstances, the number of directors constituting the board of directors may be increased or decreased from time to time in the manner specified in the Bylaws of the Corporation; provided, however, that the number shall not be less than one (1) nor more than seven (7). Any decrease in the number of directors shall not shorten the term of any incumbent director.
(c) Subject to the rights of the holders of any class or series of Preferred Stock then outstanding, any director, or the entire board of Directors, may be removed from office by the stockholders only as provided in these Articles and the NRS.
(d) Advance notice of stockholder nominations for election of directors and other business to be brought by stockholders before a meeting of stockholders shall be given in the manner provided by the Bylaws.
ARTICLE 6
The board of directors shall have the power to adopt, amend, restate, or repeal the Bylaws or adopt new Bylaws. Nothing herein shall deny the concurrent power of the stockholders to adopt, alter, amend, restate, or repeal the Bylaws, provided, however, that, in addition to any vote of the holders of any class or series of stock of the Corporation required by law or by these Articles, such action by stockholders shall require the affirmative vote of the holders of al least two-thirds in voting power of the outstanding shares of capital stock of the Corporation entitled to vote thereon.
ARTICLE 7
LIMITATIONS OF DIRECTORS’ LIABILITY
A director shall have no liability to the Corporation or its stockholders for monetary damages for conduct as a director, except for acts or omissions that involve intentional misconduct by the director, or a knowing violation of law by the director, or for conduct violating NRS 78.138(7), or for any transaction from which the director will personally receive a benefit in money, property or services to which the director is not legally entitled. If the NRS is hereafter amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director shall be eliminated or limited to the full extent permitted by NRS as so amended. Any repeal or modification of this Article 7 shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification for or with respect to an act or omission of such director occurring prior to such repeal or modification.
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ARTICLE 8
INDEMNIFICATION
Section 8.1 Indemnification and Insurance.
(a) Indemnification of Directors and Officers.
(i) For purposes of this Article, (A) ’’Indemnitee” shall mean each director or officer who was or is a party to, or is threatened to be made a party to, or is otherwise involved in, any Proceeding (as hereinafter defined), by reason of the fact that he or she is or was a director or officer of the Corporation or member, manager or managing member of a predecessor limited liability company or affiliate of such limited liability company or is or was serving in any capacity at the request of the Corporation as a director, officer, employee, agent, partner, member, manager or fiduciary of, or in any other capacity for, another corporation or any partnership joint venture, limited liability company, trust, or other enterprise; and (B) ’’Proceeding” shall mean any threatened, pending, or completed action, suit or proceeding (including, without limitation, an action, suit or proceeding by or in the right of the Corporation), whether civil, criminal, administrative, or investigative.
(ii) Each Indemnitee shall be indemnified and held harmless by the Corporation to the fullest extent permitted by Nevada law, against all expense, liability and loss (including, without limitation, attorneys’ fees, judgments, fines, taxes, penalties, and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Indemnitee in connection with any Proceeding; provided that such Indemnitee either is not liable pursuant to NRS 78.138 or acted in good faith and in a manner such Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation and, with respect to any Proceeding that is criminal in nature, had no reasonable cause to believe that his or her conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the Indemnitee is liable pursuant to NRS 78.138 or did not act in good faith and in a manner in which he or she reasonably believed to be in or not opposed to the best interests of the Corporation, or that, with respect to any criminal proceeding he or she had reasonable cause to believe that his or her conduct was unlawful. The Corporation shall not indemnify an Indemnitee for any claim, issue or matter as to which the Indemnitee has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the Corporation or for any amounts paid in settlement to the Corporation, unless and only to the extent that the court in which the Proceeding was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts as the court deems proper. Except as so ordered by a court and for advancement of expenses pursuant to this Section 8.1, indemnification may not be made to or on behalf of an Indemnitee if a final adjudication establishes that his or her acts or omissions involved intentional misconduct, fraud or a knowing violation of law and was material to the cause of action. Notwithstanding anything to the contrary contained in these Articles, no director or officer may be indemnified for expenses incurred in defending any threatened, pending, or completed action, suit or proceeding (including without limitation, an action, suit or proceeding by or in the right of the Corporation), whether civil, criminal, administrative or investigative, that such director or officer incurred in his or her capacity as a Stockholder.
(iii) Indemnification pursuant to this Section 8,1 shall continue as to an Indemnitee who has ceased to be a director or officer of the Corporation or member, manager or managing member of a predecessor limited liability company or affiliate of such limited liability company or a director, officer, employee, agent, partner, member, manager or fiduciary of, or to serve in any other capacity for, another corporation or any partnership joint venture, limited liability company, trust, or other enterprise and shall inure to the benefit of his or her heirs, executors and administrators.
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(iv) The expenses of Indemnitees must be paid by the Corporation or through insurance purchased and maintained by the Corporation or through other financial arrangements made by the Corporation, as they are incurred and in advance of the final disposition of the Proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that he or she is not entitled to be indemnified by the Corporation. To the extent that a director or officer of the Corporation is successful on the merits or otherwise in defense of any Proceeding, or in the defense of any claim, issue or matter therein, the Corporation shall indemnify him or her against expenses, including attorneys’ fees, actually and reasonably incurred in by him or her in connection with the defense.
(b) Indemnification of Employees and Other Persons. The Corporation may, by action of its Board of Directors and to the extent provided in such action, indemnify employees and other persons as though they were Indemnitees.
(c) Non-Exclusivity of Rights. The rights to indemnification provided in this Article 8 shall not be exclusive of any other rights that any person may have or hereafter acquire under any statute, provision of these Articles, or the Bylaws of the Corporation, agreement, vote of Stockholders or directors, or otherwise.
(d) Insurance. The Corporation may purchase and maintain insurance or make other financial arrangements on behalf of any Indemnitee for any liability asserted against him or her and liability and expenses incurred by him or her in his or her capacity as a director, officer, employee, member, managing member or agent, or arising out of his or her status as such, whether or not the Corporation has the authority to indemnify him or her against such liability and expenses.
(e) Other Financial Arrangements. The other financial arrangements which may be made by the Corporation may include the following: (i) the creation of a trust fund; (ii) the establishment of a program of self-insurance; (iii) the securing of its obligation of indemnification by granting a security interest or other lien on any assets of the Corporation; and (iv) the establishment of a letter of credit, guarantee or surety. No financial arrangement made pursuant to this subsection may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable for intentional misconduct, fraud, or a knowing violation of law, except with respect to advancement of expenses or indemnification ordered by a court.
(f) Other Matters Relating to Insurance or Financial Arrangements. Any insurance or other financial arrangement made on behalf of a person pursuant to this Section 8.1 may be provided by the Corporation or any other person approved by the Board of Directors, even if all or part of the other person’s stock or other securities is owned by the Corporation. In the absence of fraud, (i) the decision of the Board of Directors as to the propriety of the terms and conditions of any insurance or other financial arrangement made pursuant to this Section 8.1 and the choice of the person to provide the insurance or other financial arrangement is conclusive; and (ii) the insurance or other financial arrangement is not void or voidable and does not subject any director approving it to personal liability for his or her action; even if a director approving the insurance or other financial arrangement is a beneficiary of the insurance or other financial arrangement.
Section 8.2 Amendment. Notwithstanding any other provision of these Articles relating to their amendment generally, any repeal or amendment of this Article 8 which is adverse to any director or officer shall apply to such director or officer only on a prospective basis, and shall not limit the rights of an Indemnitee to indemnification with respect to any action or failure to act occurring prior to the time of such repeal or amendment.
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ARTICLE 9
AMENDMENTS
(a) The Corporation reserves the right to amend, alter, change or repeal any provision contained in these first Amended and Restated Articles of Incorporation, in the manner, and subject to approval by stockholders as, now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation.
(b) If any provision or provisions of these first Amended and Restated Articles of Incorporation shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of these first Amended and Restated Articles of Incorporation (including, without limitation, each portion of any sentence of these First Amended and Restated Articles of Incorporation containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.
ARTICLE 10
EFFECTIVE TIME
The effective time of these First Amended and Restated Articles of Incorporation shall be the date and time that these First Amended and Restated Articles of Incorporation are filed with the Secretary of State of the State of Nevada, or, if later, the effective date and time specified in the certificate accompanying such filing.
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IN WITNESS WHEREOF, the Corporation has caused these First Amended and Restated Articles of Incorporation to be signed by Mathew S. Brent, its Chief Executive Officer on April 28, 2022.
LOVARRA. | ||
By: | /s/ Matthew S. Brent | |
Name: Matthew S. Brent | ||
Title: Chief Executive Officer |
EXHIBIT 31.1
CERTIFICATION
I, Brent Suen, Chief Executive Officer of GoLogiq, Inc., certify that:
1. | I have reviewed this annual report on Form 10-K of GoLogiq, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: March 27. 2023 | |
/s/ Brent Suen | |
Brent Suen | |
Chief Executive Officer | |
(Principal Executive Officer) |
EXHIBIT 31.2
CERTIFICATION
I, Brent Suen, Principal Accounting Officer of GoLogiq, Inc., certify that:
1. | I have reviewed this annual report on Form 10-K of GoLogiq, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: March 27, 2023 | |
/s/ Brent Suen | |
(Principal Financial Officer and Principal Accounting Officer) |
EXHIBIT 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the annual report of GoLogiq, Inc. (the "Company") on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Brent Suen, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:
1. | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. |
/s/ Brent Suen | ||
Brent Suen | ||
Chief Executive Officer | ||
(Principal Executive Officer) |
Date: March 27, 2023
A signed original of this written statement required by Section 906 has been provided to GoLogiq, Inc. and will be retained by GoLogiq, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.
The forgoing certification is being furnished to the Securities and Exchange Commission pursuant to § 18 U.S.C. Section 1350. It is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
EXHIBIT 32.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF
THE SARBANES-OXLEY ACT OF 2002
In connection with this annual report of GoLogiq, Inc. (the “Company”), on Form 10-K for the period ended December 31, 2022, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Brent Suen, Principal Financial Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:
1. | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. |
Date: March 27, 2023 | By: | /s/ Brent Suen | |
Brent Suen | |||
Principal Financial Officer |
A signed original of this written statement required by Section 906 has been provided to GoLogiq, Inc. and will be retained by GoLogiq, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.
The forgoing certification is being furnished to the Securities and Exchange Commission pursuant to § 18 U.S.C. Section 1350. It is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.