ALKM - Alkame Holdings Restructures Debt Improving Balance Sheet And Reducing Number Of Shares That Could Be Issued To Service Debt

Rhea-AI Summary

Alkame Holdings, Inc. (ALKM) announced a debt restructuring agreement with Blue Citi LLC, converting $100,000 in Promissory notes into common shares at $0.01 each. This move aims to strengthen Alkame's balance sheet as the company prepares for increased production capacity following its transition to a new facility. CEO Robert Eakle noted a rise in demand and production needs, anticipating significant growth through 2022. The company focuses on innovative consumer products, particularly in health and wellness sectors.

Positive

• Debt restructuring improves balance sheet by converting $100,000 of Promissory notes into equity.
• Increased production capacity anticipated due to new facility.
• CEO notes significant uptick in demand, indicating potential revenue growth.

Negative

• First half of the year was challenging due to pandemic-related disruptions.

LAS VEGAS, Sept. 1, 2021 /PRNewswire/ -- Alkame Holdings, Inc. (OTC PINK: ALKM), is pleased to announce that the company has executed a debt restructuring agreement with Blue Citi LLC to restructure a $100,000 in Promissory notes.

Blue Citi LLC has agreed to restructure its $100,000, 12% interest Promissory notes through an immediate conversion of the balance into Alkame Holdings common shares at a fixed price $0.01 per share. This restructure is the first step in strengthening Alkame's balance sheet as the Company negotiates to secure a revolving line of credit to support the company's expected co-packing growth through the end of this year and well into 2022.

"While the first half of the year was challenging as we worked to complete our move to a new production facility during the pandemic, we are already seeing a large uptick in demand and by extension, production needs. Our new facility allows us to move forward as a Company that can respond to customer demand and handle the complexity of the many aspects of our co-packing business. We look forward to adding additional production capacity at our facility to speed up our processes as we ramp up production capacity for an exciting 2022," stated Robert Eakle, CEO of Alkame, "as we indicated, our restructuring efforts are aimed at strengthening both our production capability and our financial capabilities going forward."

About Alkame Holdings, Inc.

Alkame Holdings, Inc. is a publicly traded health and wellness technology holding company, with a focus on patentable, innovative, and eco-friendly consumer products. The Company's wholly owned subsidiaries manufacture products with enhanced water utilizing a proprietary technology to create products with several unique properties. The organization is diligently building a strong foundation through the launch and acquisition of appropriate business assets, and by pursuing multiple applications by placement into several emerging business sectors, such as consumer bottled water and RTD products, household pet products, horticulture and agriculture applications, hand sanitizers, and many other various water-based treatment solutions to both new and existing business platforms.

For more information, visit www.alkameholdingsinc.com.
Alkame Holdings, Inc. Investor Relations
Website: www.alkameholdingsinc.com 
Email: info@alkameholdingsinc.com 
Phone: 702-273-9714

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.

View original content:https://www.prnewswire.com/news-releases/alkm--alkame-holdings-restructures-debt-improving-balance-sheet-and-reducing-number-of-shares-that-could-be-issued-to-service-debt-301367492.html

SOURCE Alkame Holdings, Inc.

FAQ

What is the recent debt restructuring by Alkame Holdings (ALKM)?

Alkame Holdings restructured $100,000 in Promissory notes with Blue Citi LLC, converting them into common shares at $0.01 each.

How does Alkame Holdings plan to improve its balance sheet?

The company aims to strengthen its balance sheet through debt restructuring and securing a revolving line of credit.

What impact does the new facility have on Alkame Holdings (ALKM)?

The new facility is expected to significantly increase production capacity and meet rising demand.

What are the future expectations for Alkame Holdings (ALKM) in 2022?

The company anticipates strong growth and increased production capabilities through 2022.