LGBTQ Loyalty Holdings Inc (LFAP)

[Dumotier21]

[quoteThe Company and GHS determined to rescind, ab initio, the issuance of the Warrants issued pursuant to the Purchase Agreements (the “Rescission”).



In connection with the Rescission, on June 23, 2021, GHS and the Company entered into a Rescission Agreement (the “Rescission Agreement”) pursuant to which the Company and GHS agreed to rescind, ab initio, the issuances of Warrants to GHS. Pursuant to the Rescission Agreement, GHS and the Company agreed that the issuance of the Warrants are unconditionally and irrevocably rescinded ab initio by GHS and the Company, and the Warrants are neither valid nor effective in any manner whatsoever. Further, GHS and the Company acknowledged that each has been restored to the position in which such Party found itself on the date that the respective Purchase Agreement was executed but without any references, rights or obligations relative to the Warrants contained in, or otherwise granted in, either the Purchase Agreements or the Warrants. As a result, GHS has no rights whatsoever to the Warrants and the Company has no rights whatsoever to the any exercise price that it may have received pursuant to the Warrants.][/quote]


There it is. the convertable notes and warrants have been rescinded. no dilution for at least 5 years.