CyberCatch Announces Debt Settlement for Shares
CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a debt settlement of US$ 720,000 through the issuance of 4,900,000 common shares at a deemed price of $0.20 per share to the company's Founder and CEO, Sai Huda. This settlement improves the company's balance sheet and demonstrates the CEO's commitment to shareholders. The transaction, which constitutes a related party transaction, is subject to TSXV approval and relies on exemptions from MI 61-101 due to financial hardship. CyberCatch reported a 194.46% increase in revenues over nine months this fiscal year compared to the previous year and anticipates continued growth momentum with a robust sales pipeline.
CyberCatch Holdings, Inc. (TSXV: CYBE) ha annunciato un accordo di risoluzione dei debiti di 720.000 USD attraverso l'emissione di 4.900.000 azioni ordinarie a un prezzo stimato di 0,20 USD per azione a favore del fondatore e amministratore delegato dell'azienda, Sai Huda. Questo accordo migliora il bilancio dell'azienda e dimostra l'impegno del CEO verso gli azionisti. La transazione, che costituisce un affare con parte correlata, è soggetta all'approvazione del TSXV e si basa su esenzioni da MI 61-101 a causa di difficoltà finanziarie. CyberCatch ha riportato un aumento del 194,46% dei ricavi nei nove mesi di quest'anno fiscale rispetto all'anno precedente e prevede un andamento di crescita continua con un robusto portafoglio vendite.
CyberCatch Holdings, Inc. (TSXV: CYBE) ha anunciado un acuerdo de liquidación de deudas de 720,000 USD a través de la emisión de 4,900,000 acciones ordinarias a un precio estimado de 0.20 USD por acción para el fundador y CEO de la compañía, Sai Huda. Este acuerdo mejora el balance de la empresa y demuestra el compromiso del CEO con los accionistas. La transacción, que constituye una transacción con partes relacionadas, está sujeta a la aprobación del TSXV y se basa en exenciones de MI 61-101 debido a dificultades financieras. CyberCatch reportó un incremento del 194.46% en los ingresos durante los nueve meses de este año fiscal en comparación con el año anterior y anticipa continuar con un impulso de crecimiento sólido con un fuerte pipeline de ventas.
CyberCatch Holdings, Inc. (TSXV: CYBE)는 CEO인 Sai Huda에게 주당 0.20 USD로 평가된 4,900,000주를 발행하여 720,000 USD의 채무 합의를 발표했습니다. 이 합의는 회사의 재무제표를 개선하고 CEO의 주주에 대한 헌신을 보여줍니다. 이 거래는 관계자 거래로 간주되며 TSXV의 승인을 받아야 하며 재정적 어려움으로 인한 MI 61-101 면제를 기반으로 합니다. CyberCatch는 이번 회계 연도 9개월 동안 전년 대비 수익이 194.46% 증가했다고 보고했으며 강력한 판매 파이프라인과 함께 지속적인 성장세를 기대하고 있습니다.
CyberCatch Holdings, Inc. (TSXV: CYBE) a annoncé une réglementation de dettes de 720 000 USD par l'émission de 4 900 000 actions ordinaires à un prix estimé de 0,20 USD par action au fondateur et PDG de l'entreprise, Sai Huda. Cet accord améliore le bilan de l'entreprise et démontre l'engagement du PDG envers les actionnaires. La transaction, qui constitue une transaction entre parties liées, est soumise à l'approbation du TSXV et repose sur des exonérations de la MI 61-101 en raison de difficultés financières. CyberCatch a enregistré une augmentation de 194,46 % des revenus sur neuf mois de cet exercice par rapport à l'année précédente et anticipe un élan de croissance continue avec un solide pipeline de ventes.
CyberCatch Holdings, Inc. (TSXV: CYBE) hat eine Schuldenregelung in Höhe von 720.000 USD angekündigt, durch die 4.900.000 Stammaktien zu einem geschätzten Preis von 0,20 USD pro Aktie an den Gründer und CEO des Unternehmens, Sai Huda, ausgegeben werden. Diese Regelung verbessert die Bilanz des Unternehmens und zeigt das Engagement des CEO gegenüber den Aktionären. Die Transaktion, die eine Transaktion mit verwandten Parteien darstellt, unterliegt der Genehmigung durch die TSXV und stützt sich aufgrund finanzieller Schwierigkeiten auf Ausnahmen von MI 61-101. CyberCatch berichtete über einen 194,46%igen Anstieg der Einnahmen in den neun Monaten dieses Geschäftsjahres im Vergleich zum Vorjahr und erwartet mit einer soliden Verkaufs-Pipeline ein anhaltendes Wachstum.
- Debt settlement of US$ 720,000 improves the company's balance sheet
- 194.46% increase in revenues over nine months compared to the previous fiscal year
- Robust sales pipeline indicating potential future growth
- Issuance of 4,900,000 new shares may lead to dilution for existing shareholders
- The company had to rely on a loan from the CEO to cover operating expenses, indicating potential cash flow issues
Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - September 3, 2024) - CyberCatch Holdings, Inc. (TSXV: CYBE) ("CyberCatch'' or the "Company"), a cybersecurity company offering an AI-enabled platform solution for compliance and cyber risk mitigation, announces that it has settled US
"Settlement improves the balance sheet and shows my commitment to do what is in the best interest of shareholders, and it also reflects my confidence in the Company's future. Revenues increased
The Debt Settlement constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101") as the creditor is a control person, director and CEO of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(g) and 5.7(e) of MI 61-101, due to financial hardship and as the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. The Debt Settlement is subject to final approval of the TSXV.
The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement. No special committee was established in connection with the Debt Settlement.
About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Investor Relations
Phone: 1-866-756-2923
Email: info@cybercatch.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221918
FAQ
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