AB INTL GROUP Announces Completed Prepaid of All Convertible Notes That the Company Issued
AB International Group Corp. (OTCQB: ABQQ) announced the full prepayment of all convertible promissory notes totaling $168,264, improving financial flexibility. With this move, the company terminated the outstanding Notes and returned 137,000,000 reserved shares to the treasury. CEO Chiyuan Deng emphasized this completion enhances capital management and aims to maximize shareholder value. The firm, focused on intellectual property and the movie industry, is also preparing to launch its streaming service, ABQQ.tv, which could generate a new revenue stream through subscription and advertising.
- Full prepayment of $168,264 on convertible promissory notes.
- Termination of outstanding Notes enhances financial flexibility.
- Return of 137,000,000 reserved shares to treasury.
- Upcoming launch of ABQQ.tv expected to create a new revenue stream.
- None.
NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm today announced on April 7, 2021, the Company fully prepaid all convertible promissory notes that the company issues to accredited investors. The Company made
Chiyuan Deng, AB’s Chief Executive Officer stated, "We are pleased to announce today we completed full repayments and termination of all Notes that the company previously issued. The repayments create financial flexibility for the Company as we manage our capital requirements and seek to maximize shareholder value."
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People’s Republic of China. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv ( www.abqq.tv ). ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model.
For additional information visit www.abqqs.com and www.ABQQ.tv
Forward-Looking Statements
This press release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Investor Relations Contact:
Jeff Deng
(212) 918-4519
corp@abqqs.com
FAQ
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