Form 4: NEXT-ChemX Terminates Preferred Stock Agreements

Sentiment:

Beneficial Ownership Statement 2 October 2025 9:44 AM

NEXT-ChemX Corporation reported the termination of subscription agreements for Series A and Series F Preferred Stock, which were never executed.

Capital raiseA subscription agreement for 10,000 shares of Series A Preferred Stock for $10,000 was issued but never executed and subsequently terminated.A subscription agreement for 10,000 shares of Series F Preferred Stock for $10.00 was issued but never executed and subsequently terminated.

Summary

NEXT-ChemX Corporation filed a Form 4 to report changes in beneficial ownership related to preferred stock.
The filing details the termination of subscription agreements for 10,000 shares of Series A Preferred Stock and 10,000 shares of Series F Preferred Stock.
These subscription agreements, dated June 30, 2025, were never signed or executed by the parties involved.
As a result of the termination, the reporting person (NEXT-ChemX Corporation, on behalf of its Board of Directors) beneficially owns 0 shares of both Series A and Series F Preferred Stock.
The Series A Preferred Stock was intended to be purchased for $10,000, with each share carrying 500 votes and convertible into 250 shares of common stock.
The Series F Preferred Stock was intended to be purchased for $10.00, with each share carrying 1,000 votes and not convertible.

Sentiment

Score: 5

Explanation: The filing reports the termination of unexecuted subscription agreements for preferred stock, which is a neutral event as no capital was raised and no stock was issued.

Risks

The terms of the unexecuted Series A Preferred Stock would have granted 500 votes per share and convertibility into 250 shares of common stock, potentially concentrating voting power.
The terms of the unexecuted Series F Preferred Stock would have granted 1,000 votes per share, potentially concentrating significant voting power with the Board of Directors.

Future Outlook

Industry Context

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Prevented Governance Impact	Termination of subscription agreements for Series A and Series F Preferred Stock, which would have granted disproportionately high voting rights (500 votes per Series A share, 1000 votes per Series F share) and potential convertibility for Series A, thereby preventing a significant shift in voting power.	06/30/2025	Prevents potential concentration of voting power and dilution of common shareholders' influence that would have resulted from the issuance of these preferred shares.

Related Party Transactions

A subscription agreement for 10,000 Series F Preferred Stock for $10.00 was issued to the Board of Directors, but was never signed or executed and was terminated on June 30, 2025.

Stakeholder Impact

Shareholders: The termination prevents potential dilution of voting power for common shareholders that would have resulted from the issuance of preferred stock with high voting rights.

Key Dates

Date	Description
06/30/2025	Date of earliest transaction and termination of Series A and Series F Preferred Stock subscription agreements.
01/01/2026	Automatic conversion date for Series A Preferred Stock if not converted earlier (now moot due to termination).
10/02/2025	Signature date of the Form 4 filing.

Recommendation

hold

The filing reports the termination of unexecuted preferred stock subscription agreements, which is a neutral event and does not provide new information to warrant a change in investment recommendation.

Keywords

NEXT-ChemX, CHMX, Form 4, Preferred Stock, Series A, Series F, Beneficial Ownership, Corporate Governance, SEC Filing

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