Webstar settles $1.64M debt with Chairman Owens via $1.1M convertible note, $0.01 conversion

Webstar Technology Group Inc.

Settled $1,644,583 debt (loans $756,450 + accrued salary $874,833) with Chairman/CTO James Owens.
Issued $1,101,000 convertible promissory note at 8% interest, 24-month maturity, convertible at $0.01/share.
Owens forgives $543,583 balance and reduces annual salary to $1.00 per year.
Board canceled stock option grant to CFO dated December 9, 2022 (per filing).

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