Ubiquitech Reports Convertible Debt Forgiveness in Excess of $1,000,000
June 22 2023 - 7:44AM
InvestorsHub NewsWire
DENVER, CO -- June 22, 2023 -- InvestorsHub NewsWire
-- Ubiquitech Software Corp. (OTC:
UBQU) is pleased to announce that during its fiscal second
quarter, more than $1,000,000 of convertible debt principal and
accrued interest has been forgiven by its largest lender. On May 2,
2023, a judgment was entered against GPL Ventures and other GPL
parties in a case captioned SEC v. GPL Ventures et al., 21 Civ.
6814 (S.D.N.Y.). The judgment requires GPL Ventures to surrender to
Ubiquitech Software Corp. all unconverted convertible notes in
their entirety as identified in an appendix to the judgment. The
final numbers will be reflected in the company's financial
statements filed with OTCMarkets.com on or before July 15,
2023.
CEO James Ballas said, "This is a significant financial
development. It marks a large step toward ensuring the
financial health of the company and reduced potential future
dilution for existing shareholders. The company looks forward to
sharing additional corporate developments with the investment
community soon."
The Company encourages shareholders to visit our official
Twitter account for more updates: www.twitter.com/CorporateUbqu.
About Ubiquitech Software Corp.
Ubiquitech Software Corp., through its partner relationships, is
a dynamic multi-media, multi-faceted corporation utilizing
state-of-the-art global internet marketing, Direct Response (DRTV)
Television, Radio, Internet Content, and traditional marketing to
drive traffic to the new and emerging multi-billion-dollar
industries like its partner Cannazall™.
About Cannazall™
Cannazall™ focuses on the exciting and dynamic new thinking in
the world today that recognizes the important health and life
enriching enhancement that CBD Oil from the Hemp plant can bring.
Through its network of quality USA growers, Cannazall™ has
developed multiple and proprietary Cannazall™ CBD oil products that
include It's popular CBD Tinctures, Concentrated Oils, GelCaps,
Skin Salve, e-liquid, and Cannazall Pets™ CBD products all offered
@ www.cannazall.com.
This press release contains forward-looking statements. Words
such as "expects", "intends', "believes'', and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements. These forward-looking statements
involve several risks and uncertainties, including the timely
development and market acceptance of products and technologies, the
ability to secure additional sources of finance, the ability to
reduce operating expenses, and other factors described in the
Company's filings with the OTC Markets Group. The actual results
that the Company achieves may differ materially from any
forward-looking statement due to such risks and uncertainties. The
Company undertakes no obligation to revise or update any such
statements in order to reflect events or circumstances that may
arise after the date of this release.
Contact / Investor relations
IR@UbiquitechSoftware.com
Ubiquitech Software (PK) (USOTC:UBQU)
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