Summary by Futu AI
INNO Holdings Inc. (INHD) has reported a significant change in ownership by ZFounder Organization Inc., according to a Form 3 filed with the SEC. The document, dated 09/11/2024, indicates that ZFounder Organization Inc., a director and 10% owner of INNO Holdings, now beneficially owns 8,998,958 shares of common stock directly. This change in ownership includes a series of transactions involving the issuance of shares for consulting services, a conversion of series A convertible preferred stock, and gifts of common stock from Dekui Liu, resulting in adjustments after stock splits. The reporting person received 500,000 series A convertible preferred stock on February 1, 2022, which was later converted into 1,000,000 shares of common stock. Additionally, on May 4, 2023, and May 31, 2024, ZFounder Organization Inc. received a total of 10,412,644 shares of common stock as gifts. The Form 3 filing is a mandatory disclosure for directors, officers, or owners of more than ten percent of a class of a company's securities and is required by the Securities Exchange Act of 1934.
