EMA and Auctus have paid off long time ago.
MANALAPAN, N.J., Aug. 16, 2019 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (Other OTC: SNPW) announced that on August 9, 2019, the Company filed a Form 14C with the Securities and Exchange Commission with the shareholders of the Company consenting to an increase in the number of authorized shares as was obligated by contract per the settlement of its convertible debt with Auctus Fund, LLC (“Auctus”). Auctus who still hold warrants of the Company shares required a certain number of shares to be reserved. Their requirement coupled with the Company not also having sufficient authorized shares available to also satisfy EMA Financial, LLC (“EMA”) remaining share balance and warrants created the need for the Company to increase its authorized shares. While the Company has extinguished its convertible debt with Auctus, the Company also hopes to extinguish its remaining convertible debt with EMA in the coming weeks.
MANALAPAN, N.J, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (Other OTC: SNPW) reports that on October 15, 2019, EMA Financial, LLC (“EMA”) presented its last conversion notice for common shares in the company that extinguished the remaining outstanding balance on its convertible debt agreement.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are pleased that we have received the last notice of conversion in satisfaction of our EMA convertible debt. We believe this action should relieve excessive selling pressure on the trading of SNPW shares in the market. This final conversion of common stock, coupled with the recent settlement of our convertible debt with Auctus Fund, LLC, substantially concludes the convertible debt arrangements that we had entered into with EMA and Auctus in 2018. While these funding agreements were necessary to allow Sun Pacific to move forward with its business plans, we are glad that they have come to an end.”
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