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<head><title>Blue Water Bar & Grill, Inc. -- Form 8-K (11-2-15)</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; MARGIN-TOP:0px; COLOR:#000000"> <div style=WIDTH:672px> <p style="FONT-SIZE:12pt; MARGIN-BOTTOM:0px; MARGIN-TOP:17px" align=center><b>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br></b><font style=FONT-SIZE:11pt>Washington, D.C. 20549</font></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>CURRENT REPORT</b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Date of Report (date of earliest event reported): <b><u>November 2, 2015</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Water Bar &amp; Grill, Inc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>&nbsp;(Exact name of registrant as specified in its charter)</font></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p></div> <table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=228> <td width=228> <td width=228 /> </tr><tr> <td width=228 style="MARGIN-TOP:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:9px; PADDING-RIGHT:9px" valign=top> <p style=MARGIN:0px><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>(State or other jurisdiction</font></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>of incorporation)</font></p></td> <td width=228 style="MARGIN-TOP:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:9px; PADDING-RIGHT:9px" valign=top> <p style=MARGIN:0px align=center><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333-194482&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center>(Commission</p> <p style=MARGIN:0px align=center>File Number)</p></td> <td width=228 style="MARGIN-TOP:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:9px; PADDING-RIGHT:9px" valign=top> <p style=MARGIN:0px><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46-3073820&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>(I.R.S. Employer</font></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>Identification Number)</font></p></td></tr></table> <div style=WIDTH:672px> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lake Side Drive #5, Indigo Bay, Cole Bay, St. Maarten, Dutch West Indies&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></font></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>&nbsp;(Address of principal executive offices and zip code)</font></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center>&nbsp;</p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tel: (949) 264-1475, Fax: (949) 607-4052&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></b></font></p> <p style=MARGIN:0px align=center><font style=BACKGROUND-COLOR:#ffffff>&nbsp;(Registrant&#146;s telephone number, including area code)</font></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px align=justify>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:9pt; MARGIN-BOTTOM:-2px; FONT-FAMILY:'Wingdings'; WIDTH:48px; MARGIN-TOP:0px; FLOAT:left">&#168;</p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:9pt; MARGIN-BOTTOM:-2px; FONT-FAMILY:'Wingdings'; WIDTH:48px; MARGIN-TOP:0px; FLOAT:left">&#168;</p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Soliciting material pursuant to Rule I4a-12 under the Exchange Act (17CFR240.14a-12)</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:9pt; MARGIN-BOTTOM:-2px; FONT-FAMILY:'Wingdings'; WIDTH:48px; MARGIN-TOP:0px; FLOAT:left">&#168;</p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:9pt; MARGIN-BOTTOM:-2px; FONT-FAMILY:'Wingdings'; WIDTH:48px; MARGIN-TOP:0px; FLOAT:left">&#168;</p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p> <p style="CLEAR:left; MARGIN:0px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:11px; MARGIN-TOP:0px"><br><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="MARGIN-BOTTOM:11px; MARGIN-TOP:0px; PAGE-BREAK-BEFORE:always"><br></p> <p style=MARGIN:0px align=center><b>Forward Looking Statements</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify>This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively, &#147;<b>Filings</b>&#148;) contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, our management as well as estimates and assumptions made by our management. &nbsp;When used in the filings the words &#147;anticipate&#148;, &#147;believe&#148;, &#147;estimate&#148;, &#147;expect&#148;, &#147;future&#148;, &#147;intend&#148;, &#147;plan&#148; or the negative of these terms and similar expressions identify forward looking statements as they relate to our business or our management. &nbsp;Such statements reflect management&#146;s current view of our business with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the section of our Annual Report filed on Form 10-K entitled &#147;Risk Factors&#148;) relating to our industry, operations and results of operations, and other relevant aspects of our business. &nbsp;Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify>Although we believe the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. &nbsp;Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements contained within this Form 8-K and elsewhere.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; WIDTH:96px; MARGIN-TOP:0px; FLOAT:left"><b><u>Item 3.02</u></b></p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify><b><u>Unregistered Sales of Equity Securities</u></b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><i>Reduction of $97,625 in Outstanding Accounts Payable</i></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>On November 2, 2015, Blue Water Bar &amp; Grill, Inc. (&#147;<b>Blue Water</b>&#148;) issued 97,625 shares of its Series A Preferred Stock, $0.001 par value, to Taurus Financial Partners, LLC (&#147;<b>Taurus</b>&#148;) as payment for $97,625 in outstanding accounts payable. &nbsp;These shares of preferred stock are restricted for a minimum period of two years from the date of issue.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>As of November 2, 2015, Blue Water had 97,625 shares of its Series A Preferred Stock issued and outstanding, all of which are owned by Taurus, an affiliated party.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; WIDTH:96px; MARGIN-TOP:0px; FLOAT:left"><b><u>Item 5.03</u></b></p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify><b><u>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</u></b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><i>Designation of Series A Preferred Stock</i></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>On November 2, 2015 our Board of Directors authorized a class of preferred stock consisting of up to 250,000 shares and designated it Series A Preferred Stock. &nbsp;The Series A Preferred Stock has the following terms and rights:</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Designation and Amount</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>This class of preferred stock shall be designated Series A Preferred Stock (&#147;<b>Preferred Stock</b>&#148;), $0.001 par value. &nbsp;The Corporation&#146;s Board of Directors may issue up to two-hundred fifty-thousand (250,000) shares of this Preferred Stock.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Rank</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The Preferred Stock shall rank superior to the Corporation&#146;s common stock and all other classes (currently outstanding or future) of preferred stock.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Dividends</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The Preferred Stock is eligible for all legal dividends as may be approved by the Corporation&#146;s Board of Directors. &nbsp;In the event a dividend is declared across multiple classes of stock, the amount of any dividend to be received by holders of the Preferred Stock shall be calculated on a fully-diluted, pro-rata basis with the other classes of stock participating in said dividend.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br><br></p> <p style=MARGIN:0px align=center>2</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="FONT-SIZE:4pt; MARGIN-BOTTOM:-4pt; MARGIN-TOP:0px; PAGE-BREAK-BEFORE:always" /> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Voting Rights</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Holders of the Preferred Stock shall have the right to vote on any and all matters with holders of common stock (and other classes of preferred stock, if any) by aggregating votes into one (1) class of stock. &nbsp;Each share of Preferred Stock shall have five-thousand (5,000) votes for any election or other vote placed before the shareholders of the Corporation, regardless if the vote is taken with or without a shareholders&#146; meeting. &nbsp;Holders of the Preferred Stock may not cumulate their votes in any voting matter.</p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Conversion</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>After a minimum holding period of two (2) years from the date of issue, holders of shares of Preferred Stock may, at their sole option, convert all or a portion of their holdings of Preferred Stock into shares of the Corporation&#146;s common stock at a ratio of one (1) share of Preferred Stock for five-thousand (5,000) shares of common stock. &nbsp;There is no requirement for holders to convert their holdings into shares of common stock.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN-BOTTOM:-2px; WIDTH:240px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px"><u>Redemption by Corporation</u>.</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:240px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>After a minimum period of two (2) years from the date of issue the Corporation may, at its sole option, redeem some or all of the Preferred Stock in either cash, common stock (as per the conversion calculation herein), or a combination thereof.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; WIDTH:96px; MARGIN-TOP:0px; FLOAT:left"><b><u>Item 9.01</u></b></p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify><b><u>Financial Statements and Exhibits</u></b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; WIDTH:96px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:48px">(d) </p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Exhibits</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; WIDTH:192px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:96px">Exhibit 3.5</p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify>Certificate of Designation of Series A Preferred Stock</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style=MARGIN:0px align=center>3</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=center><b>Signatures</b></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="PADDING-LEFT:288px; MARGIN:0px; TEXT-INDENT:48px" align=justify><b>BLUE WATER BAR &amp; GRILL, INC.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>Dated: November 2, 2015</p> <p style="MARGIN-BOTTOM:-2px; WIDTH:336px; MARGIN-TOP:0px; FLOAT:left; TEXT-INDENT:288px">By: </p> <p style="MARGIN:0px; TEXT-INDENT:-2px" align=justify><u>/s/ </u><i><u>J. Scott Sitra&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></i></p> <p style="CLEAR:left; MARGIN:0px; TEXT-INDENT:336px" align=justify>J. Scott Sitra</p> <p style="MARGIN:0px; TEXT-INDENT:336px" align=justify>President and Chief Executive Officer</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br><br></p> <p style=MARGIN:0px align=center>4</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px><br></p></div></body>
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Blue Water Bar & Grill, Inc. -- Form 8-K (11-2-15)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (date of earliest event reported):
November 2, 2015
Blue Water Bar & Grill, Inc.
(Exact name of registrant as specified in its charter)
Colorado
(State or other jurisdiction
of incorporation)
333-194482
(Commission
File Number)
46-3073820
(I.R.S. Employer
Identification Number)
Lake Side Drive #5, Indigo Bay, Cole Bay, St. Maarten, Dutch West Indies
(Address of principal executive offices and zip code)
Tel: (949) 264-1475, Fax: (949) 607-4052
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule I4a-12 under the Exchange Act (17CFR240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Forward Looking Statements
This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively, "
Filings
") contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, our management as well as estimates and assumptions made by our management.  When used in the filings the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions identify forward looking statements as they relate to our business or our management.  Such statements reflect management's current view of our business with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the section of our Annual Report filed on Form 10-K entitled "Risk Factors") relating to our industry, operations and results of operations, and other relevant aspects of our business.  Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
Although we believe the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements contained within this Form 8-K and elsewhere.
Item 3.02
Unregistered Sales of Equity Securities
Reduction of $97,625 in Outstanding Accounts Payable
On November 2, 2015, Blue Water Bar & Grill, Inc. ("
Blue Water
") issued 97,625 shares of its Series A Preferred Stock, $0.001 par value, to Taurus Financial Partners, LLC ("
Taurus
") as payment for $97,625 in outstanding accounts payable.  These shares of preferred stock are restricted for a minimum period of two years from the date of issue.
As of November 2, 2015, Blue Water had 97,625 shares of its Series A Preferred Stock issued and outstanding, all of which are owned by Taurus, an affiliated party.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Designation of Series A Preferred Stock
On November 2, 2015 our Board of Directors authorized a class of preferred stock consisting of up to 250,000 shares and designated it Series A Preferred Stock.  The Series A Preferred Stock has the following terms and rights:
Designation and Amount
.
This class of preferred stock shall be designated Series A Preferred Stock ("
Preferred Stock
"), $0.001 par value.  The Corporation's Board of Directors may issue up to two-hundred fifty-thousand (250,000) shares of this Preferred Stock.
Rank
.
The Preferred Stock shall rank superior to the Corporation's common stock and all other classes (currently outstanding or future) of preferred stock.
Dividends
.
The Preferred Stock is eligible for all legal dividends as may be approved by the Corporation's Board of Directors.  In the event a dividend is declared across multiple classes of stock, the amount of any dividend to be received by holders of the Preferred Stock shall be calculated on a fully-diluted, pro-rata basis with the other classes of stock participating in said dividend.
2
Voting Rights
.
Holders of the Preferred Stock shall have the right to vote on any and all matters with holders of common stock (and other classes of preferred stock, if any) by aggregating votes into one (1) class of stock.  Each share of Preferred Stock shall have five-thousand (5,000) votes for any election or other vote placed before the shareholders of the Corporation, regardless if the vote is taken with or without a shareholders' meeting.  Holders of the Preferred Stock may not cumulate their votes in any voting matter.
Conversion
.
After a minimum holding period of two (2) years from the date of issue, holders of shares of Preferred Stock may, at their sole option, convert all or a portion of their holdings of Preferred Stock into shares of the Corporation's common stock at a ratio of one (1) share of Preferred Stock for five-thousand (5,000) shares of common stock.  There is no requirement for holders to convert their holdings into shares of common stock.
Redemption by Corporation
.
After a minimum period of two (2) years from the date of issue the Corporation may, at its sole option, redeem some or all of the Preferred Stock in either cash, common stock (as per the conversion calculation herein), or a combination thereof.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
Exhibit 3.5
Certificate of Designation of Series A Preferred Stock
3
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BLUE WATER BAR & GRILL, INC.
Dated: November 2, 2015
By:
/s/
J. Scott Sitra
J. Scott Sitra
President and Chief Executive Officer
4