June 25, 2025 · Form 4 insider transaction
AEROSPACE CAPITAL PARTNERS, LLC bought 24,805,000 shares of Dynamic Aerospace Systems at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 30 days after the transaction.
PURSUANT TO THE CERTIFICATE OF DESIGNATION OF RIGHTS AND PREFERENCES, EACH SHARE OF SERIES A PREFERRED STOCK IS CONVERTIBLE INTO THREE SHARES OF THE ISSUERS COMMON STOCK, AT THE DISCRETION OF THE HOLDER.; THE REPORTING PERSON ACQUIRED THE SHARES OF SERIES A PREFERRED STOCK PURSUANT TO THE TERMS OF CONVERTIBLE PROMISSORY NOTES (NOTE 1 AND NOTE 2) ISSUED BY THE ISSUER IN FEBRUARY AND MARCH, 2025. PURSUANT TO THE TERMS OF THE NOTES, UPON THE CREATION OF THE SERIES A PREFERRED STOCK, THE OUTSTANDING BALANCE OF THE NOTE WOULD CONVERT INTO SHARES OF SERIES A PREFERRED STOCK. THE AGGREGATE PRINCIPAL AMOUNT OF THE NOTE 1, $358,200, CONVERTED AT A PRICE OF $0.015 AND THE AGGREGATE PRINCIPAL AMOUNT OF THE NOTE 2, $372,000, CONVERTED AT A PRICE OF $0.40 PER SHARE INTO SHARES OF SERIES A PREFERRED STOCK WHEN THE SERIES A PREFERRED STOCK WERE CREATED ON JUNE 24, 2025.; THE SHARES OF SERIES A PREFERRED STOCK MAY BE CONVERTED INTO SHARES OF THE ISSUER'S COMMON STOCK AT ANY TIME AT THE DISCRETION OF THE HOLDER. THERE IS NO EXPIRATION OF THE RIGHT TO CONVERT INTO THE ISSUER'S COMMON STOCK.