debt
confidence high
sentiment positive
materiality 0.55
SMC Entertainment retires $442,875 of debt; CEO converts $82K to 60.7M shares
Fyntechnical Innovations Inc
- Total debt retired: $442,875, including $360,875 from two consultants and $82,000 CEO accrued consulting fees.
- CEO Erik Blum converted $82,000 to 60,740,740 common shares at $0.00135 per share; now holds 284,970,470 shares.
- Debt retirement will be reflected in Q2 2024 financial statements; management cites commitment to balance sheet.
- CEO references recent agreement to purchase 100% of ChainTrade Ltd. assets, calling stock 'extremely undervalued.'