$VNUE Announces More Debt Holders Convert http
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Posted On: 06/14/2021 10:47:16 AM
$VNUE Announces More Debt Holders Convert
https://www.prnewswire.com/news-releases/vnue...11583.html
NEW YORK, June 14, 2021 /PRNewswire/ -- In yet another move that considerably strengthens its balance sheet on its unrelenting quest to uplist to the OTCQB trading platform, VNUE, Inc. (OTC: VNUE) announced today that two more convertible debt holders, long-term investors, have converted their notes into restricted common shares, bringing the total debt reduction in the last 30 days to over $1.2mm.
The conversion and cancellation of both notes lowers the company's debt by another $238,616, and the company has no further financial obligation to the holders. Per the recent announcement concerning VNUE's largest creditor, Ylimit, which converted $963,000 of its debt into restricted common shares of the company, these conversions were also accomplished at a rate .014 per share.
CEO Zach Bair said, "I am doing everything I can to consolidate and clean up the company's balance sheet so that regulators can see that we mean business, and that we are working for the shareholder's interests'. This positive action also shows the confidence in which our creditors have in our company and its leadership. And to reiterate what I have stated numerous times, there are no plans for a reverse split. I firmly believe in execution to build value, and as I have stated many times, good things take time, especially when you are dealing with cutting edge technology in a large market space. I believe in doing things the right way, and do not believe in artificial means of improving the stock price. There are no short cuts."
https://www.prnewswire.com/news-releases/vnue...11583.html
NEW YORK, June 14, 2021 /PRNewswire/ -- In yet another move that considerably strengthens its balance sheet on its unrelenting quest to uplist to the OTCQB trading platform, VNUE, Inc. (OTC: VNUE) announced today that two more convertible debt holders, long-term investors, have converted their notes into restricted common shares, bringing the total debt reduction in the last 30 days to over $1.2mm.
The conversion and cancellation of both notes lowers the company's debt by another $238,616, and the company has no further financial obligation to the holders. Per the recent announcement concerning VNUE's largest creditor, Ylimit, which converted $963,000 of its debt into restricted common shares of the company, these conversions were also accomplished at a rate .014 per share.
CEO Zach Bair said, "I am doing everything I can to consolidate and clean up the company's balance sheet so that regulators can see that we mean business, and that we are working for the shareholder's interests'. This positive action also shows the confidence in which our creditors have in our company and its leadership. And to reiterate what I have stated numerous times, there are no plans for a reverse split. I firmly believe in execution to build value, and as I have stated many times, good things take time, especially when you are dealing with cutting edge technology in a large market space. I believe in doing things the right way, and do not believe in artificial means of improving the stock price. There are no short cuts."
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