NHMD amazing news: The Company is currently in active discussions with its existing noteholders to retire and settle the convertible notes, using the proceeds generated from the Company's fuel purchase orders. This strategic initiative aims to completely pay off the note, leading to the cancellation of the convertible note. Furthermore, it will allow the Company to significantly reduce the number of authorized common shares by approximately 40%. Once the initial fuel transaction is successfully completed, the Company will be able to finalize the details with the noteholders with the goal of eliminating the convertible note.
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In response to inquiries received via email from our shareholders regarding the possibility of initiating a stock buyback program using profits generated from our jet fuel deals, we are pleased to confirm that the Company has been internally deliberating this matter. We are diligently formulating a comprehensive plan to commence the repurchase of common stock utilizing the proceeds generated from our jet fuel transactions. Rest assured, we are committed to enhancing shareholder value and are actively exploring avenues to achieve this goal. Once the initial fuel transaction is successfully completed, the Company will finalize the details of the stock buyback program.
The information in this Current Report on Form 8-K with respect to Item 8.01 and the Exhibit filed under 9.01 is being furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This current report on Form 8-K will not be deemed an admission as to the materiality of any information contained herein.
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