−Removed: MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: common stock is quoted on the OTCQB, operated by the OTC Markets Group, under the symbol “ZDPY.” Trading in OTCQB stocks
−Removed: can be volatile, sporadic and risky, as thinly traded stocks tend to move more rapidly in price than more liquid securities.
−Removed: may also depress the market price of our common stock and make it difficult for our stockholders to resell their common stock.
−Removed: following table reflects the high and low closing price for our common stock for the period indicated.
−Removed: The bid information was obtained
−Removed: from the OTC Markets Group, Inc.
−Removed: and reflects inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily
−Removed: represent actual transactions.
+Added: MARKET FOR REGISTRANT’S COMMON
+Added: EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
+Added: Our common stock is quoted on the OTCQB, operated
+Added: by the OTC Markets Group, under the symbol “ZDPY.” Trading in OTCQB stocks can be volatile, sporadic and risky, as thinly
+Added: traded stocks tend to move more rapidly in price than more liquid securities.
+Added: Such trading may also depress the market price of our common
+Added: stock and make it difficult for our stockholders to resell their common stock.
+Added: The following table reflects the high and low
+Added: closing price for our common stock for the period indicated.
+Added: The bid information was obtained from the OTC Markets Group, Inc.
+Added: inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily represent actual transactions.
Quarter Ended
7 unchanged sentences
March 31, 2021
−Removed: March 22, 2022 the closing price of our common stock on the OTCQB was $0.72 per share.
−Removed: of Common Stock
−Removed: of March 24, 2022, there were approximately 103 record holders of our common stock.
−Removed: The number of record holders does not include beneficial
−Removed: owners of common stock whose shares are held in the names of banks, brokers, nominees or other fiduciaries.
−Removed: Sales of Unregistered Securities
−Removed: of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: Authorized for Issuance under Equity Compensation Plans
−Removed: August 9, 2016, our Board of Directors authorized the 2016 Equity Incentive Plan (the “2016 Plan”) and reserved 10,000,000
−Removed: shares of common stock for issuance thereunder.
−Removed: The 2016 Plan’s purpose is to encourage ownership in the Company by employees,
−Removed: officers, directors and consultants whose long-term service the Company considers essential to its continued progress and, thereby, encourage
−Removed: recipients to act in the stockholders’ interest and share in the Company’s success.
−Removed: The 2016 Plan authorizes the grant of
−Removed: awards in the form of options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code (the “Code”),
−Removed: options that do not qualify (non-statutory stock options) and grants of restricted shares of common stock.
−Removed: Restricted shares granted
−Removed: pursuant to the 2016 Plan are amortized to expense over the three-year vesting period.
−Removed: Options vest and expire over a period not to exceed
−Removed: If any share of common stock underlying a stock option that has been granted ceases to be subject to a stock option, or
−Removed: if any shares of common stock that are subject to any other stock-based award granted are forfeited or terminate, such shares shall again
−Removed: be available for distribution in connection with future grants and awards under the 2016 Plan.
−Removed: As of December 31, 2021, 325,000 stock
−Removed: option awards have been granted under the 2016 Plan.
+Added: On March 27, 2023, the closing price of our common stock on the OTCQB
+Added: was $[ ] per share.
+Added: Holders of Common Stock
+Added: As of March 28, 2023, there were approximately 103 record holders of
+Added: our common stock.
+Added: The number of record holders does not include beneficial owners of common stock whose shares are held in the names of
+Added: banks, brokers, nominees or other fiduciaries.
+Added: Recent Sales of Unregistered Securities
+Added: Purchases of Equity Securities by the Issuer and Affiliated Purchasers
+Added: Securities Authorized for Issuance under Equity Compensation Plans
+Added: On August 9, 2016, our Board of Directors authorized
+Added: the 2016 Equity Incentive Plan (the “2016 Plan”) and reserved 10,000,000 shares of common stock for issuance thereunder.
+Added: The 2016 Plan’s purpose is to encourage ownership in the Company by employees, officers, directors and consultants whose long-term
+Added: service the Company considers essential to its continued progress and, thereby, encourage recipients to act in the stockholders’
+Added: interest and share in the Company’s success.
+Added: The 2016 Plan authorizes the grant of awards in the form of options intended to qualify
+Added: as incentive stock options under Section 422 of the Internal Revenue Code (the “Code”), options that do not qualify (non-statutory
+Added: stock options) and grants of restricted shares of common stock.
+Added: Restricted shares granted pursuant to the 2016 Plan are amortized to
+Added: expense over the three-year vesting period.
+Added: Options vest and expire over a period not to exceed seven years.
+Added: If any share of common stock
+Added: underlying a stock option that has been granted ceases to be subject to a stock option, or if any shares of common stock that are subject
+Added: to any other stock-based award granted are forfeited or terminate, such shares shall again be available for distribution in connection
+Added: with future grants and awards under the 2016 Plan.
+Added: As of December 31, 2022, 1,102,500 stock option awards have been granted under the
On December 31, 2022, 8,897,500 shares are available for future issuance.
−Removed: Company also continues to maintain its 2014 Equity Compensation Plan (the “2014 Plan”), pursuant to which 1,250,000 previously
−Removed: awarded stock options are outstanding.
+Added: The Company also continues to maintain its 2014
+Added: Equity Compensation Plan (the “2014 Plan”), pursuant to which 1,250,000 previously awarded stock options are outstanding.
The 2014 Plan has been superseded by the 2016 Plan.
−Removed: Accordingly, no additional shares subject
−Removed: to the existing 2014 Plan will be issued and the 1,250,000 shares issuable upon exercise of stock options will be issued pursuant to
−Removed: the 2014 Plan, if exercised.
−Removed: As of December 31, 2021, options to purchase 1,250,000 shares of common stock are outstanding pursuant to
−Removed: the 2014 Plan.
−Removed: OF SECURITIES
−Removed: Shares and Holders
−Removed: of March 24, 2022, our authorized capital stock consists of 100,000,000 shares of common stock, $0.001 par value per share, 12,201,548
−Removed: of which were issued and outstanding, and 5,000,000 shares of preferred stock, $0.001 par value per share, 2,000,000 of which were issued
−Removed: and outstanding.
−Removed: of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote.
−Removed: common stock do not have cumulative voting rights.
−Removed: Holders of the Company’s common stock are entitled to share in all dividends
−Removed: that our board of directors, in its discretion, declares from legally available funds.
−Removed: In the event of a liquidation, dissolution or
−Removed: winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities
−Removed: and after providing for each class of stock, if any, having preference over the common stock.
−Removed: The Company’s common stock has no
−Removed: pre-emptive rights, no conversion rights and there are no redemption provisions applicable to the Company’s common stock.
−Removed: articles of incorporation, as amended, authorizes our board of directors, subject to any limitations prescribed by law, without further
−Removed: stockholder approval, to establish and to issue from time to time one or more classes or series of preferred stock.
−Removed: Each class or series
−Removed: of preferred stock will cover the number of shares and will have the powers, preferences, rights, qualifications, limitations and restrictions
−Removed: determined by the board of directors, which may include, among others, dividend rights, liquidation preferences, voting rights, conversion
−Removed: rights, preemptive rights and redemption rights.
−Removed: Except as provided by law or in a preferred stock designation, the holders of preferred
−Removed: stock will not be entitled to vote at or receive notice of any meeting of stockholders.
−Removed: certificate of designation for the preferred stock provides that the shares are not convertible into any other class or series of stock.
−Removed: Holders of preferred shares are entitled to 50 votes for each share held.
−Removed: Voting rights are not subject to adjustment for splits that
−Removed: increase or decrease the common shares outstanding.
−Removed: Upon liquidation, holders of preferred stock will be entitled to receive $1.00 per
−Removed: share plus redemption provision before assets are distributed to other stockholders.
−Removed: Holders of preferred shares are entitled to dividends
−Removed: equal to common share dividends.
−Removed: Once any shares of preferred stock are outstanding, at least 51% of the total number of shares of preferred
−Removed: stock outstanding must approve the following transactions:
+Added: Accordingly, no additional shares subject to the existing 2014 Plan will be issued
+Added: and the 1,250,000 shares issuable upon exercise of stock options will be issued pursuant to the 2014 Plan, if exercised.
+Added: As of December
+Added: 31, 2022, options to purchase 1,250,000 shares of common stock are outstanding pursuant to the 2014 Plan.
+Added: DESCRIPTION OF SECURITIES
+Added: Outstanding Shares and Holders
+Added: As of March 28, 2023, our authorized capital stock consists of 100,000,000
+Added: shares of common stock, $0.001 par value per share, 12,201,548 of which were issued and outstanding, and 5,000,000 shares of preferred
+Added: stock, $0.001 par value per share, 2,000,000 of which were issued and outstanding.
+Added: Holders of the Company’s common stock are
+Added: entitled to one vote for each share on all matters submitted to a stockholder vote.
+Added: Holders of common stock do not have cumulative voting
+Added: Holders of the Company’s common stock are entitled to share in all dividends that our board of directors, in its discretion,
+Added: declares from legally available funds.
+Added: In the event of a liquidation, dissolution or winding up, each outstanding share entitles its
+Added: holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if
+Added: any, having preference over the common stock.
+Added: The Company’s common stock has no pre-emptive rights, no conversion rights and there
+Added: are no redemption provisions applicable to the Company’s common stock.
+Added: Preferred Stock
+Added: Our articles of incorporation, as amended, authorizes
+Added: our board of directors, subject to any limitations prescribed by law, without further stockholder approval, to establish and to issue
+Added: from time to time one or more classes or series of preferred stock.
+Added: Each class or series of preferred stock will cover the number of
+Added: shares and will have the powers, preferences, rights, qualifications, limitations and restrictions determined by the board of directors,
+Added: which may include, among others, dividend rights, liquidation preferences, voting rights, conversion rights, preemptive rights and redemption
+Added: Except as provided by law or in a preferred stock designation, the holders of preferred stock will not be entitled to vote at
+Added: or receive notice of any meeting of stockholders.
+Added: The certificate of designation for the preferred
+Added: stock provides that the shares are not convertible into any other class or series of stock.
+Added: Holders of preferred shares are entitled
+Added: to 50 votes for each share held.
+Added: Voting rights are not subject to adjustment for splits that increase or decrease the common shares outstanding.
+Added: Upon liquidation, holders of preferred stock will be entitled to receive $1.00 per share plus redemption provision before assets are
+Added: distributed to other stockholders.
+Added: Holders of preferred shares are entitled to dividends equal to common share dividends.
+Added: Once any shares
+Added: of preferred stock are outstanding, at least 51% of the total number of shares of preferred stock outstanding must approve the following
+Added: transactions:
of the rights, preferences of privileges of the preferred stock,
6 unchanged sentences
by us, except for operating leases and obligations assumed as part of the purchase price of property.
−Removed: of a majority of the voting power of our capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are
−Removed: necessary to constitute a quorum at any meeting of stockholders.
−Removed: A vote by the holders of a majority of our outstanding voting shares
−Removed: is required to effectuate certain fundamental corporate changes such as liquidation, merger or an amendment to our articles of incorporation.
−Removed: of preferred shares vote along with common stockholders on each matter submitted to a vote of security holders.
−Removed: As a result of the multiple
−Removed: votes accorded to holders of the preferred stock, Greg Johnston and Alex McLaren have the ability to control the outcome of all matters
−Removed: submitted to a vote of stockholders, including the election of directors.
−Removed: On those matters that require the approval of at least 51%
−Removed: of the preferred stock, both Mr.
+Added: Holders of a majority of the voting power of
+Added: our capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at
+Added: any meeting of stockholders.
+Added: A vote by the holders of a majority of our outstanding voting shares is required to effectuate certain fundamental
+Added: corporate changes such as liquidation, merger or an amendment to our articles of incorporation.
+Added: Holders of preferred shares vote along with common
+Added: stockholders on each matter submitted to a vote of security holders.
+Added: As a result of the multiple votes accorded to holders of the preferred
+Added: stock, Greg Johnston and Alex McLaren have the ability to control the outcome of all matters submitted to a vote of stockholders, including
+Added: the election of directors.
+Added: On those matters that require the approval of at least 51% of the preferred stock, both Mr.
Johnston and Mr.
−Removed: McLaren must provide their approval inasmuch as each of them owns 50% of the outstanding
+Added: McLaren must provide their approval inasmuch as each of them owns 50% of the outstanding preferred stock.
+Added: Historically, we have not paid any cash dividends
+Added: on our common stock.
+Added: It is our present intention not to pay any cash dividends in the foreseeable future, but rather to reinvest cash
+Added: flow and earnings, if any, in our business operations.
+Added: However, in the future, our board of directors may declare dividends on our common
+Added: Payment of future dividends on our common stock, if any, will be at the discretion of our board of directors and will depend on,
+Added: among other things, our results of operations, cash requirements and surplus, financial condition, contractual restrictions and other
+Added: factors that our board of directors may deem relevant.
+Added: In addition, the agreements into which we may enter in the future, including indebtedness,
+Added: may impose limitations on our ability to pay dividends or make other distributions on our capital stock.
+Added: We cannot guarantee that we
+Added: will pay dividends to our stockholders in the future.
+Added: Holders of preferred shares are entitled to dividends equal to common share dividends.
+Added: Anti-Takeover Effects of Certain Provisions of Our Articles of
+Added: Incorporation, as Amended, and Our Bylaws
+Added: These provisions, summarized below, are expected
+Added: to discourage coercive takeover practices and inadequate takeover bids.
+Added: These provisions are also designed to encourage persons seeking
+Added: to acquire control of us to first negotiate with us.
+Added: We believe that the benefits of increased protection and our potential ability to
+Added: negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging
+Added: these proposals because, among other things, negotiation of these proposals could result in an improvement of their terms.
Preferred Stock.
−Removed: Historically,
−Removed: we have not paid any cash dividends on our common stock.
−Removed: It is our present intention not to pay any cash dividends in the foreseeable
−Removed: future, but rather to reinvest earnings, if any, in our business operations.
−Removed: However, in the future, our board of directors may declare
−Removed: dividends on our common stock.
−Removed: Payment of future dividends on our common stock, if any, will be at the discretion of our board of directors
−Removed: and will depend on, among other things, our results of operations, cash requirements and surplus, financial condition, contractual restrictions
−Removed: and other factors that our board of directors may deem relevant.
−Removed: In addition, the agreements into which we may enter in the future, including
−Removed: indebtedness, may impose limitations on our ability to pay dividends or make other distributions on our capital stock.
−Removed: We cannot guarantee
−Removed: that we will pay dividends to our stockholders in the future.
−Removed: Holders of preferred shares are entitled to dividends equal to common share
−Removed: Anti-Takeover
−Removed: Effects of Certain Provisions of Our Articles of Incorporation, as Amended, and Our Bylaws
−Removed: provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids.
−Removed: These provisions are
−Removed: also designed to encourage persons seeking to acquire control of us to first negotiate with us.
−Removed: We believe that the benefits of increased
−Removed: protection and our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure
−Removed: us outweigh the disadvantages of discouraging these proposals because, among other things, negotiation of these proposals could result
−Removed: in an improvement of their terms.
−Removed: Our articles of incorporation, as amended, authorize our board of directors to issue from time to time any series of preferred
−Removed: stock and fix the voting powers, designation, powers, preferences and rights of the shares of such series of preferred stock.
−Removed: of Special Meetings of Stockholders.
−Removed: Our bylaws provide that special meetings of the stockholders may be called only by the chairman
−Removed: of the board or the chief executive officer, and shall be called by the chairman of the board or the secretary (i) when so directed by
−Removed: the board, or (ii) at the written request of stockholders owning shares representing at least 25% of voting power in the election of
−Removed: Notice Requirements for Stockholder Proposals and Director Nominations.
−Removed: Our bylaws establish an advance notice procedure for stockholder
−Removed: proposals to be brought before a meeting of our stockholders, including proposed nominations of persons for election to the board of
−Removed: of Directors;
−Removed: Our bylaws provide that a director may be removed from office by stockholders for cause, or without cause
−Removed: by a majority vote of the stockholders.
−Removed: A vacancy on the board of directors may be filled only by a majority of the directors then in
+Added: Our articles of incorporation,
+Added: as amended, authorize our board of directors to issue from time to time any series of preferred stock and fix the voting powers, designation,
+Added: powers, preferences and rights of the shares of such series of preferred stock.
+Added: Calling of Special Meetings of Stockholders.
+Added: Our bylaws provide that special meetings of the stockholders may be called only by the chairman of the board or the chief executive
+Added: officer, and shall be called by the chairman of the board or the secretary (i) when so directed by the board, or (ii) at the written
+Added: request of stockholders owning shares representing at least 25% of voting power in the election of directors.
+Added: Advance Notice Requirements for Stockholder
+Added: Proposals and Director Nominations.
+Added: Our bylaws establish an advance notice procedure for stockholder proposals to be brought before
+Added: a meeting of our stockholders, including proposed nominations of persons for election to the board of directors.
+Added: Removal of Directors;
+Added: provide that a director may be removed from office by stockholders for cause, or without cause by a majority vote of the stockholders.
+Added: A vacancy on the board of directors may be filled only by a majority of the directors then in office.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.