SACRAMENTO, CA, Feb. 18, 2020 (GLOBE NEWSWIRE) -- Sunstock, Inc. (“Sunstock” or the “Company”) (OTC Pink: SSOK) announces the full settlement of all corporate outstanding convertible debts. Thus, all convertible debts have been discharged. The payoff of these debts stops any further conversion of debt into common stock, immediately eliminating common share dilution from these sources.
On January 14, 2020, Sunstock reached an amicable settlement agreement with Power-up Lending, Inc.
On January 15, 2020, Sunstock reached a settlement agreement and mutual general release with two note holders Auctus Fund, LLC (“Auctus”) and EMA Financial, LLC (“EMA”). On January 31, 2020, both Auctus and EMA received their settlement payments in full.
On January 28, 2020, Sunstock reached a settlement and release agreement with Crown Bridge Partners, LLC (“Crown”). On January 31, 2020, Crown received their settlement payment in full.
As a result of these actions, the four note holders released all claims against the Company, and the Company released all claims against the above listed note holders.
Jason Chang, Chief Executive Officer, stated, “The Company paid in full all outstanding convertible notes. We believe paying off the Company’s debt makes SSOK more financially stable as we continue to grow our precious metals business, gold-backed digital currency, and other exciting initiatives.”
The Company filed a Form 8-K with the US SEC giving full details on the payoff arrangement with Auctus Fund, LLC and EMA Financial, LLC and Crown Bridge Partners, LLC.
Disclaimer:
Past performance is not indicative of future results. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss.
ABOUT Sunstock, Inc.:
Sunstock, Inc. is a public company and is involved in the acquisition and distribution of precious metals, primarily gold. The Company is also in development of a unique cryptocurrency solution and proprietary technology to support its metals distribution strategy. Its “Triple 8” token may leverage precious metal investing while revolutionizing, improving and expanding the value of money backed by precious metal assets. Due to distributed ledger technology, all transactions and values of Triple 8 tokens may be self-auditing in an open sourced manner on a blockchain.
CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTS
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.
Contact and further information:
Mr. Jason Chang, CEO
(916) 860-9622
Email: enquiry@sunstockinc.com
www.sunstockinc.com
www.triple888.io