Replies to post #15940 on Defense Technologies International Corp (DTII)

[Poco Parvenu]

Debt reduction.

As a result of the Exchange Agreement, the company will have no further obligation under the convertible debentures, other than honoring its obligations thereunder in respect of the Preferred Stock and shares of common stock issuable upon conversion. The Preferred Stock has no voting rights and the 600 shares of Preferred Stock have a stated value of $600,000 ($1,000 per share). Each share of Preferred Stock is convertible at the option of the holder into shares of Defense Technologies common stock at the conversion price of $0.50 per share, post-split based on the company’s anticipated one share for 500 shares reverse stock split expected to be effective in May 2022.