NetworkNewsBreaks – American Fusion Inc. (OTC: AMFN) Restructures $2.88 Million in Stock-Based Compensation Rights
American Fusion (OTC: AMFN) , developer of the proprietary Texatron(TM) Fusion Engine(TM), entered into agreements to restructure existing stock-based compensation rights with an aggregate maximum contractual amount of $2.88 million into Series C Convertible Preferred Stock. The agreements cover 12 officers, directors, consultants and advisors and provide for the issuance of up to 288,000 Series C preferred shares, subject to applicable earning and exchange provisions. The company said the restructuring is part of a broader capital restructuring effort supporting its planned national securities exchange listing and institutional financing initiatives.
American Fusion also said JV CPA Inc. resigned as its independent registered public accounting firm effective Oct. 1, citing health reasons, with no reported disagreements or reportable events. The company is in the process of engaging PCAOB-registered MBP Global LLP as its successor auditor, subject to completion of the firm’s client acceptance and onboarding procedures.
To view the full press release, visit https://nnw.fm/EPthW
NOTE TO INVESTORS : The latest news and updates relating to AMFN are available in the company’s newsroom at https://nnw.fm/AMFN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
American Fusion (OTC: AMFN) , developer of the proprietary Texatron(TM) Fusion Engine(TM), entered into agreements to restructure existing stock-based compensation rights with an aggregate maximum contractual amount of $2.88 million into Series C Convertible Preferred Stock. The agreements cover 12 officers, directors, consultants and advisors and provide for the issuance of up to 288,000 Series C preferred shares, subject to applicable earning and exchange provisions. The company said the restructuring is part of a broader capital restructuring effort supporting its planned national securities exchange listing and institutional financing initiatives.
American Fusion also said JV CPA Inc. resigned as its independent registered public accounting firm effective Oct. 1, citing health reasons, with no reported disagreements or reportable events. The company is in the process of engaging PCAOB-registered MBP Global LLP as its successor auditor, subject to completion of the firm’s client acceptance and onboarding procedures.
To view the full press release, visit https://nnw.fm/EPthW
NOTE TO INVESTORS : The latest news and updates relating to AMFN are available in the company’s newsroom at https://nnw.fm/AMFN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
