debt
confidence high
sentiment neutral
materiality 0.60
Bubblr cancels super-voting preferred stock, secures new $500K director loan, authorizes reverse split up to 1:150
Bubblr Inc.
- Director Stephen Morris cancels Special 2019 Series A Preferred Stock (super voting rights) in exchange for adding £52,088 ($60,000) to existing loan principal.
- New unsecured, zero-interest, non-convertible loan of £434,060 ($500,000) from Morris to subsidiary Bubblr Limited, due in 3 years.
- GHS Investments waives borrowing cap over $200,000 in Series C Preferred Stock terms, receiving 281,000 common shares as consideration.
- Board authorizes reverse stock split with ratio from 1:10 to 1:150, effective within 12 months; holder of Series A Preferred consented.