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GenTech Announces Settlement of $1M+ Judgement for $50K Payment, Removing a Third of Current Liabilities from Balance Sheet for
March 30 2021 - 09:30AM
InvestorsHub NewsWire
?
GenTech Announces Settlement of $1M+ Judgement for $50K Payment, Removing a Third of Current Liabilities from Balance Sheet for Minor Cash Deployment
NEW YORK, NY -- March 30, 2021 -- InvestorsHub NewsWire -- GenTech Holdings, Inc. (OTC PINK: GTEH) ("GenTech" or the "Company"), an emerging leader in the high-end Premium Coffee and Functional Foods marketplaces, is pleased to announce that the Company has settled an outstanding judgement of $1.09 million from 2017 for a $50,000 payment.
"This is a tremendous result that bears directly upon our ability to foster growth given current resources," noted David Lovatt, CEO of GenTech. "We consider this a strong victory for GenTech and for our shareholders. The original judgement has been reported on our balance sheet as a liability valued at more than a million dollars. To see this settled and completely and definitively out of the picture for just 5% of that amount is a huge win for the Company, and one that is well deserved given the associated details."
The Company has already made the settlement payment, and the plaintiffs in the case now agree to "cause all third parties to, immediately cease, desist and forbear from enforcing or attempting to enforce or collect upon the Judgment and the Sister State Judgment (including without limitation by seeking, making, or implementing any orders, demands, levies, seizures, judgment liens, security interests, garnishments or other collections efforts)."
Management notes that this result allows the Company to reduce its Current Liabilities by over 30% for a deployment of cash that is less than 1/20th of the amount that appeared due given its recent financial reporting.
Lovatt added, "Given the increasing momentum we have seen in our SINFIT subsidiary over the past three months, getting this liability off the books could have significant implications for our ability to finance future high-ROI investments in brand growth and upgraded market positioning."
BRLL red to green
BRLL red to green
Agreed.
Sweet tweet. Let's start the move up.
Check Wyoming SOS. posted yesterday.
SOS amendment just came out changing AS from unlimited to 6,125,000,000
.002 looks to possibly be bottom.
If not well .0017 - .0018.
Agree
News
GenTech's SINFIT Announces Acquisition of Fast-Growing Health Brand "Yourganics"
Wheat Ridge, Colorado--(Newsfile Corp. - March 24, 2021) - GenTech Holdings, Inc. (OTC Pink: GTEH) ("GenTech" or the "Company"), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods marketplaces, is excited to announce that its SINFIT Nutrition unit ("SINFIT") (www.sinfitnutrition.com) today signed a binding Letter of intent to acquire the assets of hot emerging brand 'Yourganics'.
?
SINFIT Nutrition
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_002full.jpg
?
yourganics
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_003full.jpg
Already sold online and seeing great success on Amazon.com™, SINFIT Nutrition, Inc. sees massive growth in the Vegan Functional Food market by taking the core Yourganics brand and its customers and cross marketing the SINFIT range and vice versa.
CEO of SINFIT Nutrition, Leonard K. Armenta Jr. commented that "Yourganics recently saw huge success with their Amazon sales (https://tinyurl.com/5293dnwb) and sold through their entire inventory in record time leaving them a prime acquisition target. With our easy access the manufacturing and with a solid capital base to work from, we believe our success with Yourganics will be on an impressive scale."
The Company intends to quickly expand the range to include a 'Yourganics from SINFIT' offering that will produce everything from Organic and Vegan Seasonings through to Organic and Vegan Cookies and Protein Bars.
Armenta continued "We have been on an active acquisition hunt and this is just the start. Our eye for brands that can cross fertilize and integrate into our ecosystem have been high on the list, and this is the first of many over the coming weeks and months'. Watch this space!"
A rise in the company's authorized share capital will be undertaken to accommodate the transaction, which the Company more than expects to be outweighed by increased revenues in the coming weeks.
SINFIT's Leonard K. Armenta Jr recently appeared on MoneyTV to discuss the company's recent successes, with the largest domestic revenue month registered in February 2021. Armenta commented:
"2021 is off to a great start. Q4 is a predictable seasonal soft spot, but the Company was able to use that period to gear up for maximizing its opportunities in the new year. This has included supply chain adjustments, a major marketing push, product expansion, reorganization, and other value-add adjustments. So far, this is working extremely well, with revenues for the month of February 2021 topping revenues for the entire fourth quarter 2020"
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and owns and operated SINFIT Nutrition, which offers a range of high-end Functional Foods.
GTEH news
GenTech's SINFIT Announces Acquisition of Fast-Growing Health Brand "Yourganics"
Wheat Ridge, Colorado--(Newsfile Corp. - March 24, 2021) - GenTech Holdings, Inc. (OTC Pink: GTEH) ("GenTech" or the "Company"), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods marketplaces, is excited to announce that its SINFIT Nutrition unit ("SINFIT") (www.sinfitnutrition.com) today signed a binding Letter of intent to acquire the assets of hot emerging brand 'Yourganics'.
?
SINFIT Nutrition
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_002full.jpg
?
yourganics
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_003full.jpg
Already sold online and seeing great success on Amazon.com™, SINFIT Nutrition, Inc. sees massive growth in the Vegan Functional Food market by taking the core Yourganics brand and its customers and cross marketing the SINFIT range and vice versa.
CEO of SINFIT Nutrition, Leonard K. Armenta Jr. commented that "Yourganics recently saw huge success with their Amazon sales (https://tinyurl.com/5293dnwb) and sold through their entire inventory in record time leaving them a prime acquisition target. With our easy access the manufacturing and with a solid capital base to work from, we believe our success with Yourganics will be on an impressive scale."
The Company intends to quickly expand the range to include a 'Yourganics from SINFIT' offering that will produce everything from Organic and Vegan Seasonings through to Organic and Vegan Cookies and Protein Bars.
Armenta continued "We have been on an active acquisition hunt and this is just the start. Our eye for brands that can cross fertilize and integrate into our ecosystem have been high on the list, and this is the first of many over the coming weeks and months'. Watch this space!"
A rise in the company's authorized share capital will be undertaken to accommodate the transaction, which the Company more than expects to be outweighed by increased revenues in the coming weeks.
SINFIT's Leonard K. Armenta Jr recently appeared on MoneyTV to discuss the company's recent successes, with the largest domestic revenue month registered in February 2021. Armenta commented:
"2021 is off to a great start. Q4 is a predictable seasonal soft spot, but the Company was able to use that period to gear up for maximizing its opportunities in the new year. This has included supply chain adjustments, a major marketing push, product expansion, reorganization, and other value-add adjustments. So far, this is working extremely well, with revenues for the month of February 2021 topping revenues for the entire fourth quarter 2020"
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and owns and operated SINFIT Nutrition, which offers a range of high-end Functional Foods.
GTEH news
GenTech's SINFIT Announces Acquisition of Fast-Growing Health Brand "Yourganics"
Wheat Ridge, Colorado--(Newsfile Corp. - March 24, 2021) - GenTech Holdings, Inc. (OTC Pink: GTEH) ("GenTech" or the "Company"), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods marketplaces, is excited to announce that its SINFIT Nutrition unit ("SINFIT") (www.sinfitnutrition.com) today signed a binding Letter of intent to acquire the assets of hot emerging brand 'Yourganics'.
?
SINFIT Nutrition
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_002full.jpg
?
yourganics
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/6713/78377_f9a575e4b4a90a96_003full.jpg
Already sold online and seeing great success on Amazon.com™, SINFIT Nutrition, Inc. sees massive growth in the Vegan Functional Food market by taking the core Yourganics brand and its customers and cross marketing the SINFIT range and vice versa.
CEO of SINFIT Nutrition, Leonard K. Armenta Jr. commented that "Yourganics recently saw huge success with their Amazon sales (https://tinyurl.com/5293dnwb) and sold through their entire inventory in record time leaving them a prime acquisition target. With our easy access the manufacturing and with a solid capital base to work from, we believe our success with Yourganics will be on an impressive scale."
The Company intends to quickly expand the range to include a 'Yourganics from SINFIT' offering that will produce everything from Organic and Vegan Seasonings through to Organic and Vegan Cookies and Protein Bars.
Armenta continued "We have been on an active acquisition hunt and this is just the start. Our eye for brands that can cross fertilize and integrate into our ecosystem have been high on the list, and this is the first of many over the coming weeks and months'. Watch this space!"
A rise in the company's authorized share capital will be undertaken to accommodate the transaction, which the Company more than expects to be outweighed by increased revenues in the coming weeks.
SINFIT's Leonard K. Armenta Jr recently appeared on MoneyTV to discuss the company's recent successes, with the largest domestic revenue month registered in February 2021. Armenta commented:
"2021 is off to a great start. Q4 is a predictable seasonal soft spot, but the Company was able to use that period to gear up for maximizing its opportunities in the new year. This has included supply chain adjustments, a major marketing push, product expansion, reorganization, and other value-add adjustments. So far, this is working extremely well, with revenues for the month of February 2021 topping revenues for the entire fourth quarter 2020"
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and owns and operated SINFIT Nutrition, which offers a range of high-end Functional Foods.
GTEH
GenTech (PK) News
GenTech's SINFIT Announces Acquisition of Fast-Growing Health Brand "Yourganics"
March 24 2021 - 09:20AM
InvestorsHub NewsWire
? ?
GenTech's SINFIT Announces Acquisition of Fast-Growing Health Brand "Yourganics"
Wheat Ridge, CO -- March 24, 2021 -- InvestorsHub NewsWire -- GenTech Holdings, Inc. (OTC Pink: GTEH) ("GenTech" or the "Company"), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods marketplaces, is excited to announce that its SINFIT Nutrition unit ("SINFIT") (www.sinfitnutrition.com) today signed a binding Letter of intent to acquire the assets of hot emerging brand 'Yourganics'.
?
Already sold online and seeing great success on Amazon.com™, SINFIT Nutrition, Inc. sees massive growth in the Vegan Functional Food market by taking the core Yourganics brand and its customers and cross marketing the SINFIT range and vice versa.
CEO of SINFIT Nutrition, Leonard K. Armenta Jr. commented that "Yourganics recently saw huge success with their Amazon sales (https://tinyurl.com/5293dnwb) and sold through their entire inventory in record time leaving them a prime acquisition target. With our easy access the manufacturing and with a solid capital base to work from, we believe our success with Yourganics will be on an impressive scale."
The Company intends to quickly expand the range to include a 'Yourganics from SINFIT' offering that will produce everything from Organic and Vegan Seasonings through to Organic and Vegan Cookies and Protein Bars.
Armenta continued "We have been on an active acquisition hunt and this is just the start. Our eye for brands that can cross fertilize and integrate into our ecosystem have been high on the list, and this is the first of many over the coming weeks and months'. Watch this space!"
A rise in the company's authorized share capital will be undertaken to accommodate the transaction, which the Company more than expects to be outweighed by increased revenues in the coming weeks.
SINFIT's Leonard K. Armenta Jr recently appeared on MoneyTV to discuss the company's recent successes, with the largest domestic revenue month registered in February 2021. Armenta commented:
"2021 is off to a great start. Q4 is a predictable seasonal soft spot, but the Company was able to use that period to gear up for maximizing its opportunities in the new year. This has included supply chain adjustments, a major marketing push, product expansion, reorganization, and other value-add adjustments. So far, this is working extremely well, with revenues for the month of February 2021 topping revenues for the entire fourth quarter 2020"
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and owns and operated SINFIT Nutrition, which offers a range of high-end Functional Foods.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
Corporate Contact:
invest@gentech.group
www.gentechholdings.com
Public Relations:
EDM Media, LLC
https://edm.media
(800) 301-7883
L AM (19 minutes ago)My account value just jumped with that price
?TXB Wed Mar 24, 2021 9:17 AM
FTXP news
FOOTHILLS EXPLORATION INC. PROVIDES CORPORATE STRATEGIC OBJECTIVES AND COMPLIANCE UPDATE
LOS ANGELES, March 22, 2021 (GLOBE NEWSWIRE) -- Foothills Exploration, Inc. (OTC: FTXP), including its direct and indirect subsidiaries, ("Foothills," or the "Company"), an independent oil and gas exploration company engaged in the acquisition and development of natural gas and oil properties today released an update on the Company’s compliance and financial filings status as well as balance sheet initiatives for the remainder of calendar year 2021.
The Company’s main focus is becoming OTC compliant, and creating a successful path towards building a natural gas exploration company participating in the global energy transition.
Compliance & Financial Filings:
The Company is working to become current on the OTC Pink Sheets in the coming months in compliance with Securities and Exchange Commission (SEC) Rule 15c2-12 promulgated under Section 15(c) (2) of the Securities Exchange Act of 1934, which contains disclosure and continuing disclosure requirements applicable to the Company’s securities and requiring that such disclosures be made by June 30, 2021.
Balance Sheet Initiatives:
For the remainder of 2021, Foothill’s strategy is to settle and eliminate the Company’s outstanding variable rate convertible debt to clean up its balance sheet and better position the Company for future growth.
To that end, the Company has reached settlement and mutual release agreements with both Power Up Lending Group, Ltd. (“PowerUp”) and FirstFire Global Opportunities Fund, LLC, (“Firstfire”) to retire the variable rate convertible loans issued to both lenders.
On March 19, 2021 the Company made a satisfactory payment to settle and retire two convertible notes issued to PowerUp: (a) 12% convertible note dated June 17, 2019, in the principal amount of $113,000 and (b) 12% convertible note dated July 17, 2019, in the principal amount of $78,000.
The Company also reached a settlement and mutual release agreement with Firstfire to retire its senior secured 10% convertible promissory note in the principal amount of $705,882.35, issued on March 4, 2019 and made the first of six installment payments towards that settlement agreement. The Company made the initial payment under the terms of the settlement agreement on March 19, 2021 with the final installment payment due on October 5, 2021, after which time all sums due to Firstfire pursuant to its senior secured convertible note and associated security instruments will be thereafter extinguished and terminated.
Foothills expects these note settlements and debt payments to have a significantly positive impact on the Company's balance sheet and help minimize shareholder dilution risk moving forward. The Company is also working with its other variable rate convertible lenders to reach similar settlement and release agreements enabling Foothills to further minimize future shareholder dilution risk.
“We are grateful to PowerUp and Firstfire for working with us to reach a mutual agreement that enables the Company to settle and retire a large portion of its variable rate convertible debt,” said Christopher Jarvis, the Company’s Executive Vice President of Finance. “We believe that our remaining variable rate convertible noteholders will see the importance of reaching mutually-satisfactory pathways to resolve the remaining balances of their respective notes,” continued Jarvis.
Financing
On March 19, 2021, the Company closed on a financing with Labrys Fund, L.P. for a 12% convertible promissory note in the principal amount of $535,000.00, providing the Company with a net of $452,000.00 after 10% original issue discount (OID), legal fees, and broker fees (the “Note”). The loan maturity date is March 18, 2022, and is the date on which the principal sum, the OID as well as any accrued and unpaid interest and other fees, shall be due and payable. If the Note is not repaid or refinanced, the Note is convertible into shares of the Company’s common stock at a fixed price of $0.0055 per share. The Note also has full warrant coverage with an exercise price that is 110% of the closing stock price the day prior to the Issuance Date, subject to down round protection (non-toxic) and reverse split adjustment with respect to exercise price. The warrants have a 5-year term and will allow for the purchase of 116,304,347 shares at a price of $0.0046 per share.
Investor Summit Conference
The Company also announced today that Christopher Jarvis, Executive Vice President of Finance, has been invited to present at the Q1 Virtual Investor Summit. The Investor Summit conference will take place on March 23-25, 2021 and includes a Company presentation and Q&A scheduled for 4:30 p.m. ET on March 23. To register to attend the Company’s live presentation click the following link: https://zoom.us/webinar/register/WN_sw4Xr6nUQpCY4NcAEq9Wow
To request a complimentary investor registration and a 1-on-1 meeting with Foothills, please visit the conference website at www.investorsummitgroup.com. The corporate presentation being presented will also be made available on the Company’s investor relations website https://ir.foothillspetro.com.
The Investor Summit (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. The Q1 Investor Summit will take place virtually, featuring 100 companies and over 300 institutional and retail investors.
About the Company
Foothills Exploration, Inc. is a growth stage oil and gas exploration company. The Company’s principal asset located in the Wind River Basin, Wyoming, consists of approximately 16,000 acres of highly prospective development acreage. The Company's initiative is to generate high-impact oil and gas exploration projects focused on natural gas. For additional information please visit the Company’s website at www.foothillspetro.com.
Forward-Looking Statements
All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions we made based on management's experience, perception of historical trends and technical analyses, current conditions, capital plans, drilling plans, production expectations, our ability to raise adequate additional capital, or enter into other financing arrangements to support our acquisition, development and drilling activities, anticipated future developments, and other factors believed to be appropriate and reasonable by management. When used in this release, words such as "will," “possible,” "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," "strategy," "future" or their negatives or the statements that include these words or other words that convey the uncertainty of future events or outcomes, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. In particular, statements, express or implied, concerning our future operating results and returns or our ability to acquire or develop proven or probable reserves, our ability to replace or increase reserves, increase production, or generate income or cash flows are forward-looking statements.
Forward-looking statements are not guarantees of performance. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. As a result, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. We have had sporadic and limited revenue and our securities are subject to considerable risk. Investors are cautioned to review FTXP’s filings with the Securities and Exchange Commission for a discussion of risk and other factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Investor Contact
Christopher Jarvis
EVP of Finance
(800) 204-5510
ir@foothillspetro.com
Source: Foothills Exploration, Inc
© 2021 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/FTXP/news/story?e&id=1844717
FTXP news out
FOOTHILLS EXPLORATION INC. PROVIDES CORPORATE STRATEGIC OBJECTIVES AND COMPLIANCE UPDATE
LOS ANGELES, March 22, 2021 (GLOBE NEWSWIRE) -- Foothills Exploration, Inc. (OTC: FTXP), including its direct and indirect subsidiaries, ("Foothills," or the "Company"), an independent oil and gas exploration company engaged in the acquisition and development of natural gas and oil properties today released an update on the Company’s compliance and financial filings status as well as balance sheet initiatives for the remainder of calendar year 2021.
The Company’s main focus is becoming OTC compliant, and creating a successful path towards building a natural gas exploration company participating in the global energy transition.
Compliance & Financial Filings:
The Company is working to become current on the OTC Pink Sheets in the coming months in compliance with Securities and Exchange Commission (SEC) Rule 15c2-12 promulgated under Section 15(c) (2) of the Securities Exchange Act of 1934, which contains disclosure and continuing disclosure requirements applicable to the Company’s securities and requiring that such disclosures be made by June 30, 2021.
Balance Sheet Initiatives:
For the remainder of 2021, Foothill’s strategy is to settle and eliminate the Company’s outstanding variable rate convertible debt to clean up its balance sheet and better position the Company for future growth.
To that end, the Company has reached settlement and mutual release agreements with both Power Up Lending Group, Ltd. (“PowerUp”) and FirstFire Global Opportunities Fund, LLC, (“Firstfire”) to retire the variable rate convertible loans issued to both lenders.
On March 19, 2021 the Company made a satisfactory payment to settle and retire two convertible notes issued to PowerUp: (a) 12% convertible note dated June 17, 2019, in the principal amount of $113,000 and (b) 12% convertible note dated July 17, 2019, in the principal amount of $78,000.
The Company also reached a settlement and mutual release agreement with Firstfire to retire its senior secured 10% convertible promissory note in the principal amount of $705,882.35, issued on March 4, 2019 and made the first of six installment payments towards that settlement agreement. The Company made the initial payment under the terms of the settlement agreement on March 19, 2021 with the final installment payment due on October 5, 2021, after which time all sums due to Firstfire pursuant to its senior secured convertible note and associated security instruments will be thereafter extinguished and terminated.
Foothills expects these note settlements and debt payments to have a significantly positive impact on the Company's balance sheet and help minimize shareholder dilution risk moving forward. The Company is also working with its other variable rate convertible lenders to reach similar settlement and release agreements enabling Foothills to further minimize future shareholder dilution risk.
“We are grateful to PowerUp and Firstfire for working with us to reach a mutual agreement that enables the Company to settle and retire a large portion of its variable rate convertible debt,” said Christopher Jarvis, the Company’s Executive Vice President of Finance. “We believe that our remaining variable rate convertible noteholders will see the importance of reaching mutually-satisfactory pathways to resolve the remaining balances of their respective notes,” continued Jarvis.
Financing
On March 19, 2021, the Company closed on a financing with Labrys Fund, L.P. for a 12% convertible promissory note in the principal amount of $535,000.00, providing the Company with a net of $452,000.00 after 10% original issue discount (OID), legal fees, and broker fees (the “Note”). The loan maturity date is March 18, 2022, and is the date on which the principal sum, the OID as well as any accrued and unpaid interest and other fees, shall be due and payable. If the Note is not repaid or refinanced, the Note is convertible into shares of the Company’s common stock at a fixed price of $0.0055 per share. The Note also has full warrant coverage with an exercise price that is 110% of the closing stock price the day prior to the Issuance Date, subject to down round protection (non-toxic) and reverse split adjustment with respect to exercise price. The warrants have a 5-year term and will allow for the purchase of 116,304,347 shares at a price of $0.0046 per share.
Investor Summit Conference
The Company also announced today that Christopher Jarvis, Executive Vice President of Finance, has been invited to present at the Q1 Virtual Investor Summit. The Investor Summit conference will take place on March 23-25, 2021 and includes a Company presentation and Q&A scheduled for 4:30 p.m. ET on March 23. To register to attend the Company’s live presentation click the following link: https://zoom.us/webinar/register/WN_sw4Xr6nUQpCY4NcAEq9Wow
To request a complimentary investor registration and a 1-on-1 meeting with Foothills, please visit the conference website at www.investorsummitgroup.com. The corporate presentation being presented will also be made available on the Company’s investor relations website https://ir.foothillspetro.com.
The Investor Summit (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. The Q1 Investor Summit will take place virtually, featuring 100 companies and over 300 institutional and retail investors.
About the Company
Foothills Exploration, Inc. is a growth stage oil and gas exploration company. The Company’s principal asset located in the Wind River Basin, Wyoming, consists of approximately 16,000 acres of highly prospective development acreage. The Company's initiative is to generate high-impact oil and gas exploration projects focused on natural gas. For additional information please visit the Company’s website at www.foothillspetro.com.
Forward-Looking Statements
All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions we made based on management's experience, perception of historical trends and technical analyses, current conditions, capital plans, drilling plans, production expectations, our ability to raise adequate additional capital, or enter into other financing arrangements to support our acquisition, development and drilling activities, anticipated future developments, and other factors believed to be appropriate and reasonable by management. When used in this release, words such as "will," “possible,” "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," "strategy," "future" or their negatives or the statements that include these words or other words that convey the uncertainty of future events or outcomes, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. In particular, statements, express or implied, concerning our future operating results and returns or our ability to acquire or develop proven or probable reserves, our ability to replace or increase reserves, increase production, or generate income or cash flows are forward-looking statements.
Forward-looking statements are not guarantees of performance. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. As a result, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. We have had sporadic and limited revenue and our securities are subject to considerable risk. Investors are cautioned to review FTXP’s filings with the Securities and Exchange Commission for a discussion of risk and other factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Investor Contact
Christopher Jarvis
EVP of Finance
(800) 204-5510
ir@foothillspetro.com
Source: Foothills Exploration, Inc
© 2021 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/FTXP/news/story?e&id=1844717
Nice bullish hammer candle on Friday. Hopefully confirmation to the continued upside today.
TGGI 2020 annual report
https://backend.otcmarkets.com/otcapi/company/financial-report/274613/content
TGGI annual report 2020 out
https://backend.otcmarkets.com/otcapi/company/financial-report/274613/content
Intrest starting build here. Bids are slowly going from the 100 shares to the 1000 shares and starting to jump each other. I'll slowly buy and wait for the first 1 mil share volume day. Gotta like the quiet period for accumulating.
Broke through to thinner air.
Finally broke free to thinner air.
Lol. Looks like we might test 52 wk high
Quiet board for a stock moving up. Looking to be a good day.
Volume 150 4.00
Gotcha, thanks. Trying to watch golf, baseball and some basketball while going through all this.
Interesting, that Paperfree medical solutions no longer shows up on entity name search. Only shows up on Sam Trade search under name search. I like what I'm seeing. Bought Friday and buying more on Monday with all the confusion and unknowns.
Seems to be holding up pretty well here after such a nice run and it being a low volume profit taking Friday. No worries here. Good day to add a little.
TSTS up 100% .0058 running wild
TSTS up 100% .0058 running wild
FTXP up early 16% .0024
FTXP up early 16% .0024
Gapping up this morning.
Thanks, will look more at it over the weekend.
PFMS up 28% .009 691 OS