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Wednesday, November 15, 2023 3:59:37 PM
On June 7th, 2023, the Company and Raxus Prime Venture Pte. Ltd. entered into a settlement agreement against the
5,161,000 and 445,815 accrued interest. The terms of the settlement are: write-off of $2,496,548 in principal, $2,664,452
in exchange of 20 million Preferred A shares, and for the 445,815 accrued interest, write-off of $405,815 and $40,000
payment in cash. In addition, the debtholder would receive additional 5,404,488 warrants, within the event that McLovins
Pet (subsidiary) total revenue for the fiscal year ending of December 31, 2024 is less than $22,000,000. In addition,
Apex Digital would have to follow the following performance incentive: a) If McLovins Pet generates revenue less than
$22,000,000 and more than $16,500,000 in the fiscal year ending December 31, 2024, then the Corporation shall
automatically repurchase 2,702,244 Adjustment Shares for the price of $1.00; (b) If McLovin Pet generates revenue less
than $16,500,000 in the fiscal year ending December 31, 2024, then the Corporation shall automatically repurchase
5,404,488 Adjustment Shares for the price of $1.00.
No DILUTION! Just amazing!!
How much more does this prove that this CEO cares about the company and imagine the confidence in him towards the company and the lender in him. SERIOUSLY, WOW!!
GO $$CSOC$$ 2024!!
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