American Rebel enters Bank of America forbearance on $1.9M+ default; converts debt to equity

AMERICAN REBEL HOLDINGS INC

Forbearance agreement with Bank of America from May 30 to June 30, 2025, pending full repayment of principal, interest, and fees.
Bank filed lawsuit on March 21, 2025, seeking at least $1,906,742.88 plus fees and interest for uncured payment default.
Borrower made $100,000 principal payment upon execution; can extend forbearance to July 31 with additional $100,000 payment.
Lender converted $131,910 OID Note into 100,000 shares on May 30; remaining $214,487.26 converted into 184,934 shares on June 3.
Company continues pursuing refinancing of Bank of America debt while under forbearance.

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