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HUMBL Inc (HMBL) is a global payments, asset management, and digital asset company. They aim to provide high-quality financial services to consumers worldwide, specializing in mobile payments and blockchain technology.
Through strategic partnerships and innovative solutions, HUMBL offers a seamless experience for users to manage their assets efficiently. With a focus on transparency and security, the company is committed to revolutionizing the financial industry.
Their recent achievements include the development of a blockchain ticketing system, offering reduced fees and enhanced authentication for ticket purchases. HUMBL's collaboration with AVRIO Worldwide PBC and Arkonis Capital, LLC further strengthens their position in the market, ensuring a robust and reliable platform for financial transactions.
HUMBL, Inc. (OTCQB: HMBL) has announced an amendment to its certificate of incorporation, extending limitations on Series B preferred stock conversions. The changes include:
- No conversions from June 2023 through September 2023
- to 500 Series B shares per month from October 2023 to June 2024
- to 1,000 Series B shares per month from July 2024 to December 2024
This amendment, effective June 1, 2023, is part of HUMBL's broader restructuring plan aimed at recapitalizing the company, consolidating and retiring existing debt, and reducing dilution. The goal is to drive shareholder value and strengthen the company's balance sheet, preparing for a potential uplisting to a major exchange.
HUMBL Inc (OTCQB: HMBL) has secured a funding commitment of up to $21 million as part of a comprehensive plan to recapitalize the company and pursue uplisting to a major exchange. The funding includes:
1. An Equity Financing Agreement with Pacific Lion for up to $20 million in common stock purchases.
2. A Convertible Promissory Note from Pacific Lion for up to $800,000.
3. $220,000 raised through the sale of common stock and warrants to private investors.
This restructuring aims to consolidate and retire existing debt, reduce dilution, and strengthen HUMBL's balance sheet. The company also plans to file a Regulation A+ offering to raise up to $75 million from the general public. HUMBL is working with Pacific Lion to capitalize the company and prepare for a potential uplisting within a 6-18 month timeframe.
On April 25, 2023, the Santa Cruz County Board of Supervisors unanimously approved HUMBL, Inc. to develop a digital wallet program utilizing blockchain technology for various government services, including bicycle and RV parking registrations. The digital wallet aims to enhance trust, transparency, and efficiency in government operations. The initiative follows a proposal accepted on April 12, 2022, at no cost to the County, and it aligns with California's Senate Bill 786, which permits digital issuance of vital records. HUMBL's CEO, Brian Foote, expressed pride in piloting this project in California, targeting a service that benefits all Santa Cruz residents. A formal report on the project's progress is expected in early September 2023.
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