Textmunication Announces Settlement with JSJ Inves
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Posted On: 05/30/2017 3:09:45 PM
Textmunication Announces Settlement with JSJ Investments
https://ca.finance.yahoo.com/news/textmunicat...00958.html
PLEASANT HILL, CA / ACCESSWIRE / May 30, 2017 / Textmunication Holdings, Inc. (OTC PINK: TXHD) announces that it has entered into a settlement agreement with JSJ Investments Inc. with respect to litigation related to the conversion terms of a Note Payable.
To resolve the dispute, JSJ Investments has agreed to modify their note and remove the variable conversion price feature in exchange for a fixed conversion price. Under the terms of the amended note, Textmunication will honor the previously disputed conversion notice over-time subject to JSJ drawdown requests. Following the satisfaction of the disputed conversion, TXHD will issue an additional 138,939,277 shares in satisfaction of the remaining balance of the note - effectively removing the variable conversion of the note. Textmunication management feels this is beneficial to the company's share structure over the previous note which contained a variable conversion price.
"We are happy to put this litigation behind us, and we look forward working with all of our partners to maximize the value for our shareholders. We believe it's in the best interests of all parties and our shareholders to remove the variable rate component from the JSJ Note," said Textmunication CEO, Wais Asefi.
https://ca.finance.yahoo.com/news/textmunicat...00958.html
PLEASANT HILL, CA / ACCESSWIRE / May 30, 2017 / Textmunication Holdings, Inc. (OTC PINK: TXHD) announces that it has entered into a settlement agreement with JSJ Investments Inc. with respect to litigation related to the conversion terms of a Note Payable.
To resolve the dispute, JSJ Investments has agreed to modify their note and remove the variable conversion price feature in exchange for a fixed conversion price. Under the terms of the amended note, Textmunication will honor the previously disputed conversion notice over-time subject to JSJ drawdown requests. Following the satisfaction of the disputed conversion, TXHD will issue an additional 138,939,277 shares in satisfaction of the remaining balance of the note - effectively removing the variable conversion of the note. Textmunication management feels this is beneficial to the company's share structure over the previous note which contained a variable conversion price.
"We are happy to put this litigation behind us, and we look forward working with all of our partners to maximize the value for our shareholders. We believe it's in the best interests of all parties and our shareholders to remove the variable rate component from the JSJ Note," said Textmunication CEO, Wais Asefi.
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