Puget Technologies Inc (PUGE)

[cjstocksup]

Excellent post Sterling. PUGE could be the next trip to penny runner!

PUGE $2.24 Million Debt Elimination to do Acquisitions...

This CONDITIONAL DEBT CONVERSION AGREEMENT filed with their 8-K filed with the SEC today is huge in my opinion because it indicates that Hermann Burckhardt, Thomas Jaspers, and Alpere, Inc. have all agreed to eliminate $2,241,279 worth of debt and unpaid salaries to permit it to acquire one or more promising operating companies by converting such debt to Preferred Shares.

In my opinion, this all means that they have an acquisition candidate already picked out.

It was also stated by the company that the Preferred Shares have a base value at .005 per share if they were to be converted into common shares, but clearly stated that they are not converted into common shares. See below from the the 8-K per what was within their CONDITIONAL DEBT CONVERSION AGREEMENT below:
Quote:

https://pugettechnologies.com/
https://www.otcmarkets.com/filing/html?id=14458758&guid=LA7eU6-asmIIe3h

https://img1.wsimg.com/blobby/go/281f4711-5c91-416b-8de4-71c7217aac18/downloads/005%2010%202%20Burckhardt%2C%20Jaspers%20and%20Alpere%20debt%20c.pdf?ver=1603750149708




v/r
Sterling