RemSleep Holdings Inc (RMSL)

[Golden Cross]

REMSleep Holdings Eliminates Convertible_Toxic_Debt from its Balance Sheet

April 06, 2020 06:00 ET | Source: REMSleep Holdings, Inc.

TAMPA, FL, April 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – REMSleep Holdings, Inc. (OTC PINK: RMSL) is happy to announce that it has eliminated convertible, toxic notes from its balance sheet.

REMSleep Holdings, Inc. (OTC Pink: $RMSL ) has eliminated the first two out of three convertible notes totaling almost $250,000.00 from its balance sheet. The notes were scheduled to come due on April 15, 2020. REMSleep plans to have the last of these notes eliminated from its balance sheet prior to it becoming eligible for conversion into the common stock which could be sold into the market. In October of 2019, REMSleep Holdings sold convertible debt in the form of three different notes to three different investors to raise the capital required to take its flagship product, the DeltaWave CPAP mask, to market. The notes were scheduled to come due on April 15, 2020, at which time, the debt holders would have had an option to convert their debt into, up to, and potentially over a combined 14.7% of the outstanding shares of REMSleep Holdings, Inc. and sell those shares into the market without any restriction.

Tom Wood, CEO of REMSleep Holdings, Inc., commented, “We have always put the best interest of our shareholders first and we are excited that we have the ability to pay off these notes prior to any conversion that could ultimately hurt the company’s shareholders and its valuation.”

REMSleep’s groundbreaking DeltaWave CPAP mask is currently available for pre-order on the company’s website (https://remsleep.com/product/deltawave/).