GME Innotainment Inc (GMEV)

[Werbe]

1.5 Billion Reg A Qualified here. Filings show over $2.8 million dollars owed that through a COURT ORDER, must be repaid via shares.

On December 17, 2018, the United States District Court for the Southern District of Maryland, Northern Division (the “Court”) entered an Order Granting Approval of Settlement Agreement and Stipulation (the “Order”) in the matter titled Livingston Asset Management LLC (“Livingston”) vs GME Innotainment, Inc.. The Order Granting Approval of Settlement Agreement and Stipulation between the Company and Livingston (the “Stipulation”), provides for settlement of claims against the Company in the aggregate amount of $2,803,896 for past due amounts owed to creditors in connection with attorney’s fees, consulting fees, unpaid wages, and Acquisition services which Livingston acquired from third party claim holders by means of the issuance by the Company of Settlement Shares sufficient to pay down such claims. Pursuant to the terms of the settlement agreement, the remittance amount shall
be the proceeds received less the prevailing discount, which is 50%.
Negotiated Amount

Creditor One $ 928,770
Creditor Two 671,013
Creditor Three 500,000
Creditor Four 374,233
Creditor Five 204,337
Creditor Six 68,000
Creditor Seven 24,000
Creditor Eight 18,543
Creditor Nine 10,000
Creditor Ten 5,000
Total $2,803,896

As of June 30, 2020, approximately $230,000 of this amount has been paid to creditors through the issuance of approximately 1.9 million shares.