Global Equity International Inc. Honors Recent Anti-Dilutive and Payment Plan Agreement with Mammoth Corporation
January 17 2018 - 9:43AM
InvestorsHub NewsWire
Dubai, UAE -- January 17, 2018 -- InvestorsHub Newswire
-- Global Equity International, Inc. (OTCQB:
GEQU) and its fully-owned foreign
subsidiaries, a specialist consultancy firm with offices
located in Dubai and London, would like to announce that on
December 7, 2017 a form 8-k was filed with the SEC and a Press
Release was also released to the Media the same day informing the
Market that the Company had executed a legally binding rider
agreement whereby Mammoth Corporation agreed to suspend further
conversion of debt into equity and receive the remaining
outstanding debt in six equal and manageable payments commencing
January 15, 2018 and ending June 15, 2018. Subject to the
agreement, Global Equity International Inc. agreed to allow Mammoth
Corporation to execute one final conversion into equity, as it was
their contractual right to do so anyway. In order to mitigate this
final conversion, both parties agreed that Mammoth would be limited
to a dribble-out and only be able to sell at a maximum rate of 15%
of the Company’s daily trading volume.
Today, the Company would like to announce and, more
so, confirm that the first stage payment amounting to
US$54,168 was wired to Mammoth Corporation.
SEC 8-k Link to Mammoth
Agreement: https://www.sec.gov/Archives/edgar/data/1533106/000149315217014340/0001493152-17-014340-index.htm
SEC 8-k Link to Funding
Agreements: https://www.sec.gov/Archives/edgar/data/1533106/000149315218000473/0001493152-18-000473-index.htm
Enzo Taddei, CFO of Global Equity International Inc.,
said: “This stage payment is the first one of six
equal monthly payments that we agreed with Mammoth Corporation. It
consummates our written rider agreement filed with the SEC, via a
form 8-k, on December 7, 2017 and has finally allowed us to
get a grip of our capitalization structure. Having recently agreed
and executed two separate funding agreements, one for a minimum of
US$2.7 million in various tranches (we are in receipt of the first
$400,000 tranche) and another for up to US$2.7 million in various
tranches, and also the fact that we have other revenue income due
to us, we are confident that we will not encounter any problems in
paying the remaining monthly stage payments in a timely manner. We
are only two weeks into January and already making giant strides
into 2018.”
About Global Equity International Inc. and
Subsidiaries.
Global Equity International Inc., through its wholly-owned
foreign subsidiaries, advises worldwide business leaders with their
most critical decisions and opportunities pertaining to growth,
capital needs, structure and the development of a global presence.
With offices in Dubai and London, Global Equity has developed
significant relationships in the US, UK, Central Europe, the Middle
East and South East Asia to assist clients in realizing their full
value and potential by bringing them to external capital and
resources that place an emphasis on collaborative thinking.
Furthermore, because Global Equity has offices in key financial
centers of the world, they are able to introduce their clients to a
unique opportunity of listing their shares on any one of the many
stock exchanges worldwide.
Safe Harbor Statement
This press release may include forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management’s own knowledge and assessment of the Company’s industry
and competition. The Company refers interested persons to its most
recent Annual Report on Form 10-K and its other SEC filings for a
description of additional uncertainties and factors, which may
affect forward-looking statements. The company assumes no duty to
update its forward-looking statements.
Contact details: Mr. Enzo Taddei Director and officer of Global Equity International Inc.Tel. + (1) 321 200 0142 Web: www.globalquityinternational.com Email: ir@globalequityinternational.com
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