Alkame Holdings, Inc. Completes 3(a) (10) Financial Obligation
LAS VEGAS, NV--(Marketwired - Feb 14, 2017) - Alkame Holdings, Inc. (OTC: ALKM), a publicly traded health and wellness technology holding company with a focus on patentable, innovative, and eco-friendly products, is pleased to announce, that EROP Capital, LLC has completed its 3(a) (10) process, resolving several of Alkame Holdings, Inc.'s financial obligations.
On November 10, 2014, Alkame Holdings, Inc. entered a Stipulation and Settlement Agreement with EROP Capital, LLC, for the settlement of certain past-due obligations and accounts payable of the Company totaling $796,451.55. EROP had purchased these obligations and accounts payable from certain creditors and vendors of the Company, and on January 12, 2015, the Broward County, Florida Court(s), entered an order approving, among other things, the fairness of the terms and conditions of an exchange pursuant to Section 3(a)(10) of the Securities Act of 1933, as amended, in accordance with a Stipulation of Settlement Agreement (the "Agreement"). EROP was entitled to convert the debt into common shares of the Company, and under very stringent guidelines, to sell the shares until such time as they had recovered the full amount of $796,451.55 in past-due obligations and accounts payable of Alkame. The EROP Order provided for the full and final settlement of the EROP Claim and the EROP Action. With completion of the conversion and payments of all amounts under the Agreement, the case between EROP and Alkame will now be closed out.
Robert Eakle, CEO of Alkame Holding, Inc., stated, "This marks a major milestone for Alkame, and also finalized our control of the IP."
