SpectraScience Inc (SCIE)

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From January 2016 through March 2016, holders of Variable Rate Convertible Debentures with a face value of $76,162 converted their debentures and accrued interest into 236,266,584 shares of common stock. In addition, the Company entered into Forbearance Agreements with a group of these investors in order to hold a shareholders’ meeting for the purpose of increasing authorized shares to satisfy the over commitment of shares resulting from the exercise of the Variable Rate Convertible Debentures.