On November 25, 2020, the Company received a conversion notice (“Notice”) from Labrys Fund LP (“Labrys”) pursuant to the Labrys July 8, 2019 convertible note (“Note”). The Notice was for a conversion of the original principal outstanding under the Note prior to the May 15, 2020 amendment to the Note requiring the Company to pay a reduced principal amount of the Note back in monthly cash installments. The Notice was an at-the-market conversion with a conversion price of $0.0028. The conversion is a one-time conversion that fully satisfies that balance of the Note in excess of $255,000. There was a total of 91,421,457 shares issued under the conversion.
The Company CEO, Shawn Leon, stated, “With these two events, the Company has positively impacted cash flow over the next three months by over $325,000.00. This comes at a critical time and aids our ability to grow the addiction treatment business from start-up to cash flow breakeven.” Mr. Leon added,“The one-time at-the-market conversion and new investment by Labrys was a show of confidence in the results of the restructuring
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