Ubiquitech Software Corp (UBQU)

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Ubiquitech Announces Long Term Funding Relationship for Increased Inventory, Better Pricing, and Corporate Flexibility
01/14/2019 11:30 AM
DENVER, CO, Jan. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Ubiquitech Software Corp. (UBQU), through its operating subsidiary HempLifeToday.com, today announced a new funding relationship with a New York firm to help ensure that 2019 growth initiatives are met, coupled with better inventory pricing. This debt is not convertible into free trading stock of the company for two years. As a condition to the funding arrangement the company increased its authorized shares to meet the reserve requirement of the loan covenants. Although a significant amount of shares will be on reserve, they will not be issued unless the lender elects to convert.