Friday, April 16, 2021 10:40:47 AM
Pursglove, concluded, "More recently, Beyond Commerce has executed several corporate initiatives that we believe will enhance shareholder value. Most importantly, we have strengthened our balance sheet by eliminating a large part of our debt and increasing our cash position. We look forward to reporting on the progress of these potential highlights over the remainder of 2021."
Subsequent to the End of 2020:
On March 19, 2021, Beyond Commerce entered into a securities exchange agreement with an existing institutional investor, whereby, in exchange for the Investor returning to the Company for cancellation the Senior Secured Redeemable Convertible Debenture in the initial face amount of $2,717,391.30, issued by the Company on August 7, 2018, which was convertible into Common Stock at a variable conversion price, the Company is issuing to the Investor 1,556,905 shares of the Company's Series C Convertible Preferred Stock, which are convertible into a fixed number of shares of Common Stock
On March 31, 2021, Beyond Commerce entered into a Stock Purchase Agreement with an existing institutional investor pursuant to which the Investor purchased for $1,000,000.00 in cash 10,000 shares of the Company's Series C Convertible Preferred Stock, convertible into 100,000,000 shares of the Company's common stock, at a fixed conversion price of $0.01 per share.
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