{"id":393987,"date":"2020-12-07T06:03:09","date_gmt":"2020-12-07T11:03:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393987"},"modified":"2020-12-07T06:03:09","modified_gmt":"2020-12-07T11:03:09","slug":"obitx-inc-announces-conversion-of-debt-and-exercise-of-warrants","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/obitx-inc-announces-conversion-of-debt-and-exercise-of-warrants\/","title":{"rendered":"OBITX, Inc., Announces Conversion of Debt and Exercise of Warrants"},"content":{"rendered":"
\n

Fleming Island, Florida, Dec. 07, 2020 (GLOBE NEWSWIRE) — OBITX, Inc. (OTC MARKET: OBITX) is pleased to announce the conversion of its Revolving Credit Agreement into common shares of the Company\u2019s stock.\u00a0 The conversion of the nearly $100K in debt was at the price of $2.50 per share.\u00a0 In further action, two warrant holders have exercised $55K in warrants previously registered by the Company.\u00a0 The Company\u2019s recent activity is consistent with the development of the Company\u2019s business growth and strategy, as it projects to announce within the next week its recent quarter\u2019s results, which will show the significant growth in revenue under its recent shift in operations.\u00a0 The company ability to reach agreement eliminates OBITX debt. Under the terms of the agreement the debts are fully settled, including any and all interest and fees.\u00a0 <\/p>\n

Michael Hawkins, the Company\u2019s CEO\/CFO stated, \u201cSince our focus in blockchain, we have continued to see growth and opportunities.\u00a0 We are in the best position the Company has ever been in.\u00a0 The willingness of our debtors to convert into equity at the rate above $2.00 per share is reassurance in our belief that we are on the right path.\u201d <\/p>\n

To learn more about OBITX, Inc., visit:\u00a0http:\/\/www.obitx.com<\/u><\/a><\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company\u2019s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company\u2019s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov<\/u><\/a> and on the Company\u2019s website at http:\/\/www.obitx.com<\/u><\/a>.<\/p>\n

\n \n <\/p>\n


\n
\n \n <\/div>\n

\n
Michael Hawkins\r\nCEO\/CFO\r\ninfo@obitx.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Fleming Island, Florida, Dec. 07, 2020 (GLOBE NEWSWIRE) — OBITX, Inc. (OTC MARKET: OBITX) is pleased to announce the conversion of its Revolving Credit Agreement into common shares of the Company\u2019s stock.\u00a0 The conversion of the nearly $100K in debt was at the price of $2.50 per share.\u00a0 In further action, two warrant holders have exercised $55K in warrants previously registered by the Company.\u00a0 The Company\u2019s recent activity is consistent with the development of the Company\u2019s business growth and strategy, as it projects to announce within the next week its recent quarter\u2019s results, which will show the significant growth in revenue under its recent shift in operations.\u00a0 The company ability to reach agreement eliminates OBITX debt. Under the terms of … <\/p>\n
Continue reading “OBITX, Inc., Announces Conversion of Debt and Exercise of Warrants”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393987","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOBITX, Inc., Announces Conversion of Debt and Exercise of Warrants - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/obitx-inc-announces-conversion-of-debt-and-exercise-of-warrants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OBITX, Inc., Announces Conversion of Debt and Exercise of Warrants - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Fleming Island, Florida, Dec. 07, 2020 (GLOBE NEWSWIRE) — OBITX, Inc. 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