IIOT-OXYS converts $84,262.65 reimbursement obligation into preferred shares
ITOX•IIOT-OXYS converted an $84,262.65 reimbursement obligation owed to Scott Cox into 70 Series E Convertible Preferred Stock shares on November 6, 2026, at $1,200 per share, without a cash payment. It also exchanged all 57 outstanding Series C shares for 63 Series E shares at a negotiated value of $76,408.
1. Reimbursement obligation converted
On November 6, 2026, IIOT-OXYS converted an $84,262.65 reimbursement obligation owed to Scott Cox into 70 shares of Series E Convertible Preferred Stock at $1,200 per share, fully extinguishing the obligation without a cash payment.
2. Series C shares exchanged
In a separate exchange that closed the same day, all 57 outstanding Series C Convertible Preferred Stock shares were converted into 63 Series E shares at a negotiated value of $76,408. No Series C shares remained outstanding.
