Caduceus Cancels $1,707,561 Convertible Note

Rhea-AI Summary

Caduceus Software Systems, Corp. (OTC Pink: CSOC) has announced the cancellation of a $1,707,561 convertible note, achieving a key milestone in its debt management strategy. This write-off of unsecured debt follows a settlement agreement with a debtholder and signifies the elimination of liabilities from previous management. CEO Alex Chen highlighted that this strengthens the company's balance sheet and enhances shareholder value. Additionally, the company will participate in a Q&A session on September 8, 2021, to provide insights into its operations and growth prospects.

Positive

• Cancellation of $1,707,561 convertible note improves financial health.
• Elimination of old liabilities enhances balance sheet strength.
• Anticipated Q&A session may boost investor confidence.

Negative

• None.

CHEYENNE, WY / ACCESSWIRE / August 31, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC Pink:CSOC) ("Caduceus" or the "Company"), a consumer goods focused holding company and owner of McLovin's Pet Food, Inc. is pleased to announce that it has cancelled a $1,707,561 convertible note.

Caduceus has achieved yet another milestone by finalizing a debt settlement agreement with a debtholder. The agreement calls for the definitive write-off of an outstanding unsecured debt with a principal total amount of $1,707,561. With the backing of our investors, the Company was able to negotiate a settlement to write off this debt.

"We are excited about successfully cancelling this debt in full. This marks the last of the old liabilities incurred by former management. This further strengthens our balance sheet and will create more value for our shareholders as we continue to expand the commercialization of McLovin's", said Alex Chen, Chief Executive Officer of Caduceus Corp.

The Company also wishes to remind shareholders that it will taking part of an upcoming Q&A session. During the live Q&A Discord session, the Company will be further presenting McLovin's operations, developments, and revenue projections.

The Q&A will be taking place on the Company's Discord Channel and hosted by Apollo Assets. We invite investors to attend the Live Questions & Answers event by joining the designated Discord channel. Use this link to join and access the Caduceus / Apollo Assets Discord channel: https://discord.gg/apolloassets

The Q&A will be held on September 8^th, 2021, at 6:00 PM Eastern Standard Time.

About Caduceus Software Systems, Corp.

Caduceus Software Systems Corp is a Wyoming-based holding company with is wholly owned subsidiary McLovin's, a Pet Food and Pet Care company. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11%. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories. The Company is traded on the OTC Markets under the trading symbol" CSOC".

For more information:

OTC Markets: (OTC Pink: CSOC)
Website: https://caduceuscorp.co
Email: info@caduceuscorp.co
Discord: https://discord.gg/apolloassets

Twitter: https://twitter.com/caduceuscorp

About McLovin's Pet Food, Inc

McLovin's, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you'll find in McLovin's is similar to what you'll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.

Corporate Website: https://mclovinspetfood.com/

Forward-Looking Statements:

Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE: Caduceus Software Systems, Corp.

View source version on accesswire.com:
https://www.accesswire.com/662216/Caduceus-Cancels-1707561-Convertible-Note

FAQ

What is the significance of Caduceus Software Systems canceling a $1,707,561 convertible note?

The cancellation of the convertible note significantly improves Caduceus's financial health by eliminating a major liability, which strengthens its balance sheet and increases value for shareholders.

When will Caduceus Software Systems hold its Q&A session?

Caduceus Software Systems will hold its Q&A session on September 8, 2021, at 6:00 PM Eastern Standard Time.

How does the cancellation of debt affect Caduceus Software Systems' stock performance?

The cancellation of debt typically positively impacts stock performance by improving financial stability, reducing liabilities, and potentially increasing investor confidence.

What was the old liability Caduceus Software Systems canceled?

Caduceus Software Systems canceled an unsecured debt with a principal amount of $1,707,561.