{"url_path":"/sec/gcan/8-k/2026-07-06/item-5-01","section_key":"item-5-01","section_title":"Item 5.01 ** **Changes in Control of Registrant**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/1695473/0001493152-26-032191-index.html","accession_number":"0001493152-26-032191","cik":"0001695473","ticker":"GCAN","issuer_name":"Greater Cannabis Company, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1695473/0001493152-26-032191-index.html","primary_entity_key":"0001695473","primary_entity_name":"Greater Cannabis Company, Inc."},"word_count":279,"has_tables":true,"body_markdown":"**Item 5.01** **Changes in Control of Registrant**\n\n \n\nAs\nnoted in Item 1.01, on June 29, 2026, the Controlling Shareholder entered into the Share Purchase. Through the Controlling Shareholder’s\nownership of all outstanding shares of the Company’s Series A Preferred Stock and Series B Preferred Stock, Trafalgar Asset Management,\nLLC possesses approximately 96.62% of the aggregate voting power of the Company’s outstanding voting securities as of June 29,\n2026, based upon 994,379 shares of Common Stock outstanding, each share of Series A Preferred Stock being entitled to 1.76 votes per\nshare, and the outstanding shares of Series B Preferred Stock collectively being entitled to 51% of all votes entitled to be cast. As\na result, the Controlling Shareholder possesses voting control of the Company and may unilaterally determine the election of directors\nand substantially all matters requiring stockholder approval. The acquisition of control was effected pursuant to privately negotiated\ntransactions contemplated by the Series A Share Purchase Agreement and the Series B Share Purchase Agreement, copies of which are filed\nas Exhibits 10.1 and 10.2 to this Current Report and incorporated herein by reference. The material terms of such transactions, including\nthe consideration paid thereunder, are set forth in such agreements.\n\n \n\nAlso\nas noted in Item 1.01 above, on June 29, 2026, the Company entered into certain Debt Cancellation and Release Agreements with certain\ncreditors of the Company pursuant to which certain outstanding indebtedness of the Company was compromised, settled, canceled, released,\nand extinguished. Copies of such Debt Cancellation and Release Agreements are filed as Exhibits 10.3 and 10.4 to this Current Report\nand incorporated herein by reference. The material terms of such transactions are set forth in such agreements."}