VNUE Announces More Debt Holders Convert
VNUE, Inc. (OTC: VNUE) announced significant debt reduction in its latest move toward uplisting to the OTCQB trading platform. In the past 30 days, two convertible debt holders converted their notes into restricted common shares, totaling over $1.2 million in debt reduction. This included a $238,616 reduction from the latest conversions. The CEO, Zach Bair, emphasized his commitment to cleaning up the balance sheet to demonstrate credibility to regulators and shareholders, reaffirming no plans for a reverse stock split.
- Total debt reduced by over $1.2 million in the last 30 days.
- Recent debt conversions eliminated $238,616 in obligations, enhancing financial stability.
- None.
NEW YORK, June 14, 2021 /PRNewswire/ -- In yet another move that considerably strengthens its balance sheet on its unrelenting quest to uplist to the OTCQB trading platform, VNUE, Inc. (OTC: VNUE) announced today that two more convertible debt holders, long-term investors, have converted their notes into restricted common shares, bringing the total debt reduction in the last 30 days to over
The conversion and cancellation of both notes lowers the company's debt by another
CEO Zach Bair said, "I am doing everything I can to consolidate and clean up the company's balance sheet so that regulators can see that we mean business, and that we are working for the shareholder's interests'. This positive action also shows the confidence in which our creditors have in our company and its leadership. And to reiterate what I have stated numerous times, there are no plans for a reverse split. I firmly believe in execution to build value, and as I have stated many times, good things take time, especially when you are dealing with cutting edge technology in a large market space. I believe in doing things the right way, and do not believe in artificial means of improving the stock price. There are no short cuts."
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a cutting-edge music technology company dedicated to further monetizing the live music experience for artists, writers, labels, publishers, fans, venues, and all stakeholders by creating new and exciting live music experiences, and by working to ensure the correct rights holders are being fairly compensated. The company is the exclusive licensee of DiscLive Network (www.disclive.net), the pioneer in "instant live" recording, and the owner and operator of Set.fm (www.set.fm), our innovative "instant" music delivery app platform. VNUE is also rolling out disruptive technology called Soundstr (www.soundstr.com), a cloud-based platform utilizing AI and other means which identifies music played in bars, restaurants, radio stations, and other businesses, and will ensure these businesses pay only their fair share for music licensing, while at the same time, ensuring songwriters and artists are paid for their work – creating a fully transparent performing rights ecosystem. The VNUE team is led by CEO and Chairman Zach Bair, a veteran music and tech entrepreneur and recording artist (www.zachbairmusic.com). VNUE is made up of a group of technologists, artists, songwriters, performing musicians, music and touring executives, and of course fans, who are passionate about the future of the music industry.
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SOURCE VNUE, Inc.
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