−Removed: MARKET FOR REGISTRANT’S COMMON
−Removed: EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: Our common stock is quoted on the OTCQB, operated
−Removed: by the OTC Markets Group, under the symbol “ZDPY.” Trading in OTCQB stocks can be volatile, sporadic and risky, as thinly
−Removed: traded stocks tend to move more rapidly in price than more liquid securities.
−Removed: Such trading may also depress the market price of our common
−Removed: stock and make it difficult for our stockholders to resell their common stock.
−Removed: The following table reflects the high and low
−Removed: closing price for our common stock for the period indicated.
−Removed: The bid information was obtained from the OTC Markets Group, Inc.
−Removed: inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily represent actual transactions.
+Added: MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
+Added: common stock is quoted on the OTCQB, operated by the OTC Markets Group, under the symbol “ZDPY.” Trading in OTCQB stocks
+Added: can be volatile, sporadic and risky, as thinly traded stocks tend to move more rapidly in price than more liquid securities.
+Added: may also depress the market price of our common stock and make it difficult for our stockholders to resell their common stock.
+Added: following table reflects the high and low closing price for our common stock for the period indicated.
+Added: The bid information was obtained
+Added: from the OTC Markets Group, Inc.
+Added: and reflects inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily
+Added: represent actual transactions.
Quarter Ended
7 unchanged sentences
March 31, 2022
−Removed: On March 27, 2023, the closing price of our common stock on the OTCQB
−Removed: was $[ ] per share.
−Removed: Holders of Common Stock
−Removed: As of March 28, 2023, there were approximately 103 record holders of
−Removed: our common stock.
−Removed: The number of record holders does not include beneficial owners of common stock whose shares are held in the names of
−Removed: banks, brokers, nominees or other fiduciaries.
−Removed: Recent Sales of Unregistered Securities
−Removed: Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: Securities Authorized for Issuance under Equity Compensation Plans
−Removed: On August 9, 2016, our Board of Directors authorized
−Removed: the 2016 Equity Incentive Plan (the “2016 Plan”) and reserved 10,000,000 shares of common stock for issuance thereunder.
−Removed: The 2016 Plan’s purpose is to encourage ownership in the Company by employees, officers, directors and consultants whose long-term
−Removed: service the Company considers essential to its continued progress and, thereby, encourage recipients to act in the stockholders’
−Removed: interest and share in the Company’s success.
−Removed: The 2016 Plan authorizes the grant of awards in the form of options intended to qualify
−Removed: as incentive stock options under Section 422 of the Internal Revenue Code (the “Code”), options that do not qualify (non-statutory
−Removed: stock options) and grants of restricted shares of common stock.
−Removed: Restricted shares granted pursuant to the 2016 Plan are amortized to
−Removed: expense over the three-year vesting period.
−Removed: Options vest and expire over a period not to exceed seven years.
−Removed: If any share of common stock
−Removed: 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
−Removed: to any other stock-based award granted are forfeited or terminate, such shares shall again be available for distribution in connection
−Removed: with future grants and awards under the 2016 Plan.
−Removed: As of December 31, 2022, 1,102,500 stock option awards have been granted under the
+Added: March 25, 2024, the closing price of our common stock on the OTCQB was $0.50 per share.
+Added: of Common Stock
+Added: of March 26, 2024, there were approximately 101 record holders of our common stock.
+Added: The number of record holders does not include beneficial
+Added: owners of common stock whose shares are held in the names of banks, brokers, nominees or other fiduciaries.
+Added: Sales of Unregistered Securities
+Added: of Equity Securities by the Issuer and Affiliated Purchasers
+Added: October 10, 2023, the Company entered into a Stock Redemption Agreement, whereby the Company purchased 100,000 shares of its common stock
+Added: from a shareholder for $15,000, or $0.15 per share, which are reflected as treasury stock on the consolidated balance sheet until such
+Added: time as the shares are cancelled.
+Added: Authorized for Issuance under Equity Compensation Plans
+Added: August 9, 2016, our Board of Directors authorized the 2016 Equity Incentive Plan (the “2016 Plan”) and reserved 10,000,000
+Added: shares of common stock for issuance thereunder.
+Added: The 2016 Plan’s purpose is to encourage ownership in the Company by employees,
+Added: officers, directors and consultants whose long-term service the Company considers essential to its continued progress and, thereby, encourage
+Added: recipients to act in the stockholders’ interest and share in the Company’s success.
+Added: The 2016 Plan authorizes the grant of
+Added: awards in the form of options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code (the “Code”),
+Added: options that do not qualify (non-statutory stock options) and grants of restricted shares of common stock.
+Added: Restricted shares granted
+Added: pursuant to the 2016 Plan are amortized to expense over the three-year vesting period.
+Added: Options vest and expire over a period not to exceed
+Added: If any share of common stock underlying a stock option that has been granted ceases to be subject to a stock option, or
+Added: if any shares of common stock that are subject to any other stock-based award granted are forfeited or terminate, such shares shall again
+Added: be available for distribution in connection with future grants and awards under the 2016 Plan.
+Added: As of December 31, 2022, 1,012,500 stock
+Added: option awards have been granted under the 2016 Plan.
On December 31, 2023, 8,987,500 shares are available for future issuance.
−Removed: The Company also continues to maintain its 2014
−Removed: Equity Compensation Plan (the “2014 Plan”), pursuant to which 1,250,000 previously awarded stock options are outstanding.
+Added: Company also continues to maintain its 2014 Equity Compensation Plan (the “2014 Plan”), pursuant to which 1,250,000 previously
+Added: awarded stock options are outstanding.
The 2014 Plan has been superseded by the 2016 Plan.
−Removed: Accordingly, no additional shares subject to the existing 2014 Plan will be issued
−Removed: and the 1,250,000 shares issuable upon exercise of stock options will be issued pursuant to the 2014 Plan, if exercised.
−Removed: As of December
−Removed: 31, 2022, options to purchase 1,250,000 shares of common stock are outstanding pursuant to the 2014 Plan.
−Removed: DESCRIPTION OF SECURITIES
−Removed: Outstanding Shares and Holders
−Removed: As of March 28, 2023, our authorized capital stock consists of 100,000,000
−Removed: 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
−Removed: stock, $0.001 par value per share, 2,000,000 of which were issued and outstanding.
−Removed: Holders of the Company’s common stock are
−Removed: entitled to one vote for each share on all matters submitted to a stockholder vote.
−Removed: Holders of common stock do not have cumulative voting
−Removed: Holders of the Company’s common stock are entitled to share in all dividends that our board of directors, in its discretion,
−Removed: declares from legally available funds.
−Removed: In the event of a liquidation, dissolution or winding up, each outstanding share entitles its
−Removed: holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if
−Removed: any, having preference over the common stock.
−Removed: The Company’s common stock has no pre-emptive rights, no conversion rights and there
−Removed: are no redemption provisions applicable to the Company’s common stock.
−Removed: Preferred Stock
−Removed: Our articles of incorporation, as amended, authorizes
−Removed: our board of directors, subject to any limitations prescribed by law, without further stockholder approval, to establish and to issue
−Removed: from time to time one or more classes or series of preferred stock.
−Removed: Each class or series of preferred stock will cover the number of
−Removed: shares and will have the powers, preferences, rights, qualifications, limitations and restrictions determined by the board of directors,
−Removed: which may include, among others, dividend rights, liquidation preferences, voting rights, conversion rights, preemptive rights and redemption
−Removed: Except as provided by law or in a preferred stock designation, the holders of preferred stock will not be entitled to vote at
−Removed: or receive notice of any meeting of stockholders.
−Removed: The certificate of designation for the preferred
−Removed: stock provides that the shares are not convertible into any other class or series of stock.
−Removed: Holders of preferred shares are entitled
−Removed: to 50 votes for each share held.
−Removed: Voting rights are not subject to adjustment for splits that increase or decrease the common shares outstanding.
−Removed: Upon liquidation, holders of preferred stock will be entitled to receive $1.00 per share plus redemption provision before assets are
−Removed: distributed to other stockholders.
−Removed: Holders of preferred shares are entitled to dividends equal to common share dividends.
−Removed: Once any shares
−Removed: of preferred stock are outstanding, at least 51% of the total number of shares of preferred stock outstanding must approve the following
−Removed: transactions:
+Added: Accordingly, no additional shares subject
+Added: 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
+Added: the 2014 Plan, if exercised.
+Added: As of December 31, 2023, options to purchase 1,250,000 shares of common stock are outstanding pursuant to
+Added: the 2014 Plan.
+Added: OF SECURITIES
+Added: Shares and Holders
+Added: of March 26, 2024, our authorized capital stock consists of 100,000,000 shares of common stock, $0.001 par value per share, of which
+Added: 12,201,548 were issued and 12,101,548 were outstanding, and 5,000,000 shares of preferred stock, $0.001 par value per share, 2,000,000
+Added: of which were issued and outstanding.
+Added: of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote.
+Added: common stock do not have cumulative voting rights.
+Added: Holders of the Company’s common stock are entitled to share in all dividends
+Added: that our board of directors, in its discretion, declares from legally available funds.
+Added: In the event of a liquidation, dissolution or
+Added: winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities
+Added: and after providing for each class of stock, if any, having preference over the common stock.
+Added: The Company’s common stock has no
+Added: pre-emptive rights, no conversion rights and there are no redemption provisions applicable to the Company’s common stock.
+Added: articles of incorporation, as amended, authorizes our board of directors, subject to any limitations prescribed by law, without further
+Added: stockholder approval, to establish and to issue from time to time one or more classes or series of preferred stock.
+Added: Each class or series
+Added: of preferred stock will cover the number of shares and will have the powers, preferences, rights, qualifications, limitations and restrictions
+Added: determined by the board of directors, which may include, among others, dividend rights, liquidation preferences, voting rights, conversion
+Added: rights, preemptive rights and redemption rights.
+Added: Except as provided by law or in a preferred stock designation, the holders of preferred
+Added: stock will not be entitled to vote at or receive notice of any meeting of stockholders.
+Added: certificate of designation for the preferred stock provides that the shares are not convertible into any other class or series of stock.
+Added: Holders of preferred shares are entitled to 50 votes for each share held.
+Added: Voting rights are not subject to adjustment for splits that
+Added: increase or decrease the common shares outstanding.
+Added: Upon liquidation, holders of preferred stock will be entitled to receive $1.00 per
+Added: share plus redemption provision before assets are distributed to other stockholders.
+Added: Holders of preferred shares are entitled to dividends
+Added: equal to common share dividends.
+Added: Once any shares of preferred stock are outstanding, at least 51% of the total number of shares of preferred
+Added: stock outstanding must approve the following transactions:
of the rights, preferences of privileges of the preferred stock,
−Removed: of any new class of stock having preferences over the preferred stock,
−Removed: of any of our common stock,
−Removed: of consolidation with any other company, other than one of our wholly owned subsidiaries,
−Removed: conveyance or other disposal of, or creation or incurrence of any mortgage, lien, or charge or encumbrance or security interest in
−Removed: or pledge of, or sale and leaseback of, all or substantially all of our property or business, or
−Removed: assumption or guarantee of any indebtedness maturing more than 18 months after the date on which it is incurred, assumed or guaranteed
−Removed: by us, except for operating leases and obligations assumed as part of the purchase price of property.
−Removed: Holders of a majority of the voting power of
−Removed: our capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at
−Removed: any meeting of stockholders.
−Removed: A vote by the holders of a majority of our outstanding voting shares is required to effectuate certain fundamental
−Removed: corporate changes such as liquidation, merger or an amendment to our articles of incorporation.
−Removed: Holders of preferred shares vote along with common
−Removed: stockholders on each matter submitted to a vote of security holders.
−Removed: As a result of the multiple votes accorded to holders of the preferred
−Removed: stock, Greg Johnston and Alex McLaren have the ability to control the outcome of all matters submitted to a vote of stockholders, including
−Removed: the election of directors.
−Removed: On those matters that require the approval of at least 51% of the preferred stock, both Mr.
+Added: creation of any new class
+Added: of stock having preferences over the preferred stock,
+Added: repurchase of any of our
+Added: common stock,
+Added: merger of consolidation
+Added: with any other company, other than one of our wholly owned subsidiaries,
+Added: sale, conveyance or other
+Added: disposal of, or creation or incurrence of any mortgage, lien, or charge or encumbrance or security interest in or pledge of, or sale
+Added: and leaseback of, all or substantially all of our property or business, or
+Added: incurrence, assumption
+Added: or guarantee of any indebtedness maturing more than 18 months after the date on which it is incurred, assumed or guaranteed by us,
+Added: except for operating leases and obligations assumed as part of the purchase price of property.
+Added: of a majority of the voting power of our capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are
+Added: necessary to constitute a quorum at any meeting of stockholders.
+Added: A vote by the holders of a majority of our outstanding voting shares
+Added: is required to effectuate certain fundamental corporate changes such as liquidation, merger or an amendment to our articles of incorporation.
+Added: of preferred shares vote along with common stockholders on each matter submitted to a vote of security holders.
+Added: As a result of the multiple
+Added: votes accorded to holders of the preferred stock, Greg Johnston and Alex McLaren have the ability to control the outcome of all matters
+Added: submitted to a vote of stockholders, including the election of directors.
+Added: On those matters that require the approval of at least 51%
+Added: 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 preferred stock.
−Removed: Historically, we have not paid any cash dividends
−Removed: on our common stock.
−Removed: It is our present intention not to pay any cash dividends in the foreseeable future, but rather to reinvest cash
−Removed: flow and earnings, if any, in our business operations.
−Removed: However, in the future, our board of directors may declare dividends on our common
−Removed: Payment of future dividends on our common stock, if any, will be at the discretion of our board of directors and will depend on,
−Removed: among other things, our results of operations, cash requirements and surplus, financial condition, contractual restrictions and other
−Removed: factors that our board of directors may deem relevant.
−Removed: In addition, the agreements into which we may enter in the future, including indebtedness,
−Removed: may impose limitations on our ability to pay dividends or make other distributions on our capital stock.
−Removed: We cannot guarantee that we
−Removed: will pay dividends to our stockholders in the future.
−Removed: Holders of preferred shares are entitled to dividends equal to common share dividends.
−Removed: Anti-Takeover Effects of Certain Provisions of Our Articles of
−Removed: Incorporation, as Amended, and Our Bylaws
−Removed: These provisions, summarized below, are expected
−Removed: to discourage coercive takeover practices and inadequate takeover bids.
−Removed: These provisions are also designed to encourage persons seeking
−Removed: to acquire control of us to first negotiate with us.
−Removed: We believe that the benefits of increased protection and our potential ability to
−Removed: negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging
−Removed: these proposals because, among other things, negotiation of these proposals could result in an improvement of their terms.
+Added: McLaren must provide their approval inasmuch as each of them owns 50% of the outstanding
preferred stock.
−Removed: Our articles of incorporation,
−Removed: as amended, authorize our board of directors to issue from time to time any series of preferred stock and fix the voting powers, designation,
−Removed: powers, preferences and rights of the shares of such series of preferred stock.
−Removed: Calling of Special Meetings of Stockholders.
−Removed: Our bylaws provide that special meetings of the stockholders may be called only by the chairman of the board or the chief executive
−Removed: 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
−Removed: request of stockholders owning shares representing at least 25% of voting power in the election of directors.
−Removed: Advance Notice Requirements for Stockholder
−Removed: Proposals and Director Nominations.
−Removed: Our bylaws establish an advance notice procedure for stockholder proposals to be brought before
−Removed: a meeting of our stockholders, including proposed nominations of persons for election to the board of directors.
−Removed: Removal of Directors;
−Removed: provide that a director may be removed from office by stockholders for cause, or without cause 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 office.
+Added: Historically,
+Added: we have not paid any cash dividends on our common stock.
+Added: It is our present intention not to pay any cash dividends in the foreseeable
+Added: future, but rather to reinvest cash flow and earnings, if any, in our business operations.
+Added: However, in the future, our board of directors
+Added: may declare dividends on our common stock.
+Added: Payment of future dividends on our common stock, if any, will be at the discretion of our
+Added: board of directors and will depend on, among other things, our results of operations, cash requirements and surplus, financial condition,
+Added: contractual restrictions and other factors that our board of directors may deem relevant.
+Added: In addition, the agreements into which we may
+Added: enter in the future, including indebtedness, may impose limitations on our ability to pay dividends or make other distributions on our
+Added: capital stock.
+Added: We cannot guarantee that we will pay dividends to our stockholders in the future.
+Added: Holders of preferred shares are entitled
+Added: to dividends equal to common share dividends.
+Added: Anti-Takeover
+Added: Effects of Certain Provisions of Our Articles of Incorporation, as Amended, and Our Bylaws
+Added: provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids.
+Added: These provisions are
+Added: also designed to encourage persons seeking to acquire control of us to first negotiate with us.
+Added: We believe that the benefits of increased
+Added: protection and our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure
+Added: us outweigh the disadvantages of discouraging these proposals because, among other things, negotiation of these proposals could result
+Added: in an improvement of their terms.
+Added: Our articles of incorporation, as amended, authorize our board of directors to issue from time to time any series of preferred
+Added: stock and fix the voting powers, designation, powers, preferences and rights of the shares of such series of preferred stock.
+Added: of Special Meetings of Stockholders.
+Added: Our bylaws provide that special meetings of the stockholders may be called only by the chairman
+Added: 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
+Added: the board, or (ii) at the written request of stockholders owning shares representing at least 25% of voting power in the election of
+Added: Notice Requirements for Stockholder Proposals and Director Nominations.
+Added: Our bylaws establish an advance notice procedure for stockholder
+Added: proposals to be brought before a meeting of our stockholders, including proposed nominations of persons for election to the board of
+Added: of Directors;
+Added: Our bylaws provide that a director may be removed from office by stockholders for cause, or without cause
+Added: 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
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.