250 million?? Did that change since the original deal?
Weren’t there two warrant holders? Who held the other warrants?
Did they r/s with common?
Forwardly, Inc. Acquires Warrants to Purchase 500 Million Shares of Tesoro Enterprises, Inc.
Press Release | 12/10/2020
Boulder City, NV, Dec. 10, 2020 (GLOBE NEWSWIRE) -- George Sharp, President and CEO of Forwardly, Inc. (OTCMKT: FORW), announced today that the company has made a cash investment in Tesoro Enterprises, Inc. (OTCMKT: TSNP), soon to be renamed HUMBL, Inc., as one of two parties to purchase Tesoro warrants. These warrants enable Forwardly to purchase up to 500 million shares of Tesoro common stock within a period of two years. The agreement between Forwardly and Tesoro was entered into on November 23, 2020, and its closing was contingent on the completion of the merger between HUMBL and Tesoro Enterprises, Inc., which has now taken place.
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Forwardly Arranges for $2 million in Non-Dilutive Debt Financing; Will Commence Exercising HUMBL Warrants
Press Release | 11/19/2021
Henderson, NV, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Forwardly, Inc. (OTCMKT: FORW), announced today that it has arranged for $2 million in debt financing from its CEO, George Sharp. Under the terms of the 12 month loan, Mr. Sharp shall be entitled to an interest rate of 8% APR. The loan is not subject to conversion into Forwardly stock.
Proceeds from the loan will be used to immediately purchase 10 million shares of HUMBL, Inc. (OTCMKT: HMBL) through the partial exercise of a warrant the company holds to purchase up to 125 million warrant shares through December 2023 at $.20 per share. Forwardly will be unable to sell these shares until they are registered with the SEC, and the company has no intention of disposing of any stock at depreciated values.
