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Replies to post #59189 on Good Gaming Inc (GMER)
cbrad10480
12/23/18 9:07 PM
#59191 RE: SUNNYSEED #59189
Ronin
12/24/18 8:32 AM
#59207 RE: SUNNYSEED #59189
In accordance with the modification agreement, the Company redeemed 46.531 shares of its convertible Preferred Series D stock valued at $1,000 per share from the noteholder. These preferred shares will now be retired back into the Company's treasury, thereby avoiding any conversions into common stock and will prevent any potential selling or dilution into the market. Good Gaming Inc. CEO David B. Dorwart stated, "As we continue to build value in our core operations through the strategic implementation and diversity of our expansion into the esport gaming industry, we are now looking to preserve and increase the integrity of our shareholder value. This retirement of convertible debt through a preferred share buyback is an important step in limiting and preventing unwanted dilution through the conversion of preferred shares into common stock and, as we continue to build our core infrastructure, should help us retain and increase shareholder value. Currently, the Company anticipates their business model facilitating rapid growth as they continue to expand and scale in the esport industry. They look forward to updating shareholders with upcoming events over the holiday season and throughout the upcoming year on a very consistent basis. The Company also anticipates releasing its shareholder update on Tuesday, December 18, 2018, in order to give a detailed description of events and an outlook moving forward.