Regen BioPharma settles convertible notes for $43,529 cash to avoid potential issuance of 855M shares

Regen BioPharma Inc

Settled convertible notes principal of $29,836 and accrued interest of $26,227 for $43,529.30 cash.
Notes had a default conversion provision allowing conversion at 65% of lowest bid price during delinquency.
Company determined provision could permit conversion even after cure, enabling up to 855,584,615 shares worth $16.6M.
Settlement eliminates the default-conversion risk and potential massive dilution for existing shareholders.

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