Branded Legacy,
Inc. Reduces Debt by 1.5 Million
Branded Legacy,
Inc.(OTC.PK:
BLEG) Takes
Bold Step in Financial Management: Eliminates $1.5 Million in Debt
and Safeguards Against Conversions
Melbourne, FL -- January 25, 2024 -- InvestorsHub
NewsWire -- Branded Legacy, Inc., a leading Biotech company,
proudly announces a significant milestone in its financial
strategy. The company has successfully removed $1.5 million of debt
from its balance sheet through a strategic debt purchase
initiative, ensuring no conversions can happen on the debt that
remains.
In a proactive move to strengthen the company's
financial position and enhance shareholder value, Branded Legacy,
Inc. negotiated the purchase of the entire outstanding debt of
$1,500,000 at a remarkable price of $450,000. This strategic
decision not only eliminates a substantial liability but also
safeguards against any potential conversion of the debt into
shares.
"This strategic move not only reduces our overall
debt exposure but also ensures that no conversions can happen on
the remaining debt, providing additional stability to our financial
position," said David Oswald, CEO at Branded Legacy, Inc. "By
proactively addressing our debt obligations, we have strengthened
our balance sheet, reduced financial risk, and positioned the
company for continued growth."
The debt removal initiative eliminates $1,500,000
of debt, leaving only $42,787 of total liabilities on the company's
balance sheet. This aligns with Branded Legacy, Inc.'s dedication
to fiscal responsibility and ensuring a solid foundation for future
endeavors. This move underscores the company's confidence in its
financial outlook and commitment to optimizing shareholder
returns.
Branded Legacy, Inc. is poised for continued
success, and this strategic financial move, coupled with
safeguarding against conversions, sets the stage for future growth
and prosperity.
In the company's recent major news
on, January 16th, 2024 — Branded Legacy Inc., officially announced a
significant reduction in its authorized share count from 1.5
billion to 900 million in common shares. This decision, made by the
Board of Directors, reflects the company's commitment to aligning
its capital structure with its current and anticipated business
objectives.
About Branded
Legacy, Inc.:
Branded Legacy, Inc. (OTC:
BLEG) is a diversified holdings company focused on the biotech
sector. With a commitment to excellence and innovation, Branded
Legacy specializes in the development and marketing of cutting-edge
products and services. The company's diverse portfolio includes
ventures in biotechnology, digital solutions, and wellness
products, all aimed at enhancing the quality of life for its
customers. Branded Legacy's strategic approach to growth involves
identifying and integrating promising businesses and technologies
that align with its mission to deliver sustainable, high-quality
products and services.
Investor Relations & Media
Contact
Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com
Website: https://brandedlegacy.com/
Safe Harbor
Statement on Forward-Looking Language:
This release includes
forward-looking statements, which are based on certain assumptions
and reflect management's current expectations. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations. Some of these factors include
general global economic conditions; general industry and market
conditions and growth rates; uncertainty as to whether our
strategies and business plans will yield the expected benefits;
increasing competition; availability and cost of capital; the
ability to identify and develop and achieve commercial success; the
level of expenditures necessary to maintain and improve the quality
of services; changes in the economy; changes in laws and
regulations, includes codes and standards, intellectual property
rights, and tax matters; or other matters not anticipated; our
ability to secure and maintain strategic relationships and
distribution agreements. Dilution, if any, would be for the
purposes of management taking stock in lieu of cash salary. The
company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. Additionally, this press
release that is not statements of historical fact may be considered
to be forward-looking statements. Written words such as "may,"
"will," "expect," "believe," "anticipate," "estimate," "intends,"
"goal," "objective," "seek," "attempt," or variations of these or
similar words, identify forward-looking statements. By their
nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future.