debt
confidence high
sentiment positive
materiality 0.75
VNUE restructures $857K convertible debt into non-convertible note, eliminates share overhang
VNUE, Inc.
- Converted $492,528 principal + $364,629 interest into $857,157 8% note due Sept 30, 2022.
- Potential 857M share overhang from conversion eliminated; YLimit agreed to non-convertible terms.
- Convertible debt reduced from $1,956,922 to $635,714; derivative liability goes to $0.
- Principal increased by $107,000 as part of the restructuring with largest creditor YLimit.
- Transaction positions company for OTCQB uplisting, per CEO Zach Bair.