Friday, December 02, 2022 11:54:46 AM
On August 2, 2022 the Securities and Exchange Commission (SEC) announced settled charges against one of the Company’s convertible note holders. Part of the settlement agreement is that the note holder surrenders all conversion rights in its currently held convertible notes, surrenders all unexercised warrants that it acquired in connection with convertible notes and cancels any shares it holds that were acquired by converting notes or exercising related warrants. Since the responsible court approved the settlement on August 8, 2022 the Company expects, that a total number of 102,040,816 stock warrants (Note 17.6) and a minimum number of 14,057,488shares will subsequently be cancelled.
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