Digital Brand Media and Marketing Group Inc (DBMM)

[JMMatthews]

The positive, strategic specifics below have been extracted from the 2021 10-K which means they are documented, audited and verified:

$169,937 (2021) + $57,802 (2020) = $227,739 Gain on extinguishment of debt. (MD&A, pg 18, Note 4 Loans Payable, Note 5 CDs. Pg. F-11)
Reduction in Derivative Liabilities from $772,732 to $506,360. Change in Fair Value of $9,170. (Note 7, pg. F-12)
$258,146 of Paid in Capital (pg. F-2)
$249,800 Canceled Convertible Debentures modified to non-interest loan (Ibid, Item 1)
$5.9million “net operating loss carry-forward for income tax purposes“ (Note 12-Income Taxes , pg. F-13)
DBMM’s last Convertible Debenture was issued in 2015 and Management resolved thereafter that they would not issue any in the future. Currently, the Company is diligently modifying debt by removing Convertible Debentures and their Derivative Liabilities by mutual agreement, and in the 10-K 2021 cases as no interest loans. Furthermore, these supportive institutions have also waived/cancelled all past interest due with past CD’s .

Those positive actions are representative and further indication of long-term support by investors. They want to be part of the future growth proposition by being examples of risk/reward investors. Negotiations with other CD holders are continuing and will be reflected in future filings as they conclude.

The debt modification follows the first wave of new investors to support the Company through the cure of late filings through compliance in requisite SEC filings until the matter is finally concluded. Then, the growth phase will begin as was intended well before the external mitigating circumstances over which the Company has been vigorously defending itself. Incrementally, albeit painfully slow, we are successfully gaining ground. Next is the removal of the CE which will return the Company to normal trading and normal business.

http://www.dbmmgroup.com/dbmm-shareholders-update-november-8-2021/

DBOOMM $$$