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EQUITY
9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
EQUITY

NOTE 7 – EQUITY

 

Preferred Stock

 

The Company has authorized 20,000,000 shares of preferred stock, par value $0.00001. The Preferred Stock authorized by the Certificate of Incorporation may be issued in one or more series. The Board of Directors of the Company is authorized to determine or alter the rights, preferences, privileges, and restrictions granted or imposed upon any wholly unissued series of Preferred Stock, and within the limitations or restrictions stated in any resolution or resolutions of the Board of Directors originally fixing the number of shares constituting any series, to increase or decrease (but not below the number of shares of any such series then outstanding) the number of shares of any such series subsequent to the issue of shares of that series, to determine the designation and par value of any series and to fix the numbers of shares of any series.

 

Of the authorized preferred stock, 1,000,000 shares have been designated as Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock is convertible into 10,000 shares of common stock and has 100,000 voting rights per share.

 

As of September 30, 2026 and December 31, 2025, there are no shares of preferred stock issued.

 

Common Stock

 

The Company has 480,000,000 shares of common stock authorized, with a par value of $0.00001. As of September 30, 2026 and December 31, 2025, there are 100,055,935 and 100,055,935 shares of common stock issued and outstanding, respectively.

 

On July 8, 2026, the Company’s Board of Directors and stockholders holding a majority of the Company’s voting power approved the Mag Mile Capital, Inc. 2026 Stock Incentive Plan (the “2026 Plan”), which became effective on August 17, 2026. The 2026 Plan provides for the issuance of up to 20,000,000 shares of the Company’s common stock to eligible employees, officers, directors and consultants through awards that may include incentive and nonqualified stock options, stock appreciation rights, restricted and unrestricted stock awards, restricted stock units, performance awards and other stock-based awards. The Plan is administered by the Board of Directors or a committee appointed by the Board, which has discretion to determine the recipients, type, amount, vesting provisions and other terms and conditions of awards. Of the shares reserved under the 2026 Plan, a maximum of 1,000,000 shares may be issued pursuant to incentive stock options. As of September 30, 2026, no awards had been granted under the 2026 Plan.