ISW Holdings (OTC: ISWH), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, has signed an agreement with GPL Ventures (“GPL”) to eliminate more than $2.4 million in convertible promissory notes. According to the announcement, the agreement will cover all convertible debt held by GPL, which represents more than 92% of ISWH’s outstanding convertible debt. The outstanding capital obligation owed to GPL was subject to conversion at a significant discount compared to the stock’s current trading levels, but the announced noted that no related conversion or liquidation will take place. The agreement is part of the company’s anti-dilution initiative, which it shared in December 2020. As a result of the initiative, ISWH has reduced outstanding shares by nearly 25%, reduced authorized shares by 88% and eliminated more than $3.4 million of outstanding convertible debt, which is approximately 94% of the company’s convertible debt. “This is a huge step,” said ISW Holdings president and chair Alonzo Pierce in the press release. “We are making good on our anti-dilution pledge announced last year and taking strong action to reduce or completely eliminate toxic debt and dilution risk from the equation for our shareholders. This enormous step prevents millions of shares from coming onto the market. We were able to take this step as a direct result of strong operational performance and a significantly improved outlook ahead.”
To view the full press release, visit https://ibn.fm/jzOYZ
About ISW Holdings Inc.
ISW Holdings, based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. The company’s expertise lies in strategic brand development, early growth facilitation, as well as brand identity through its proprietary procurement process. Together with its partners, ISW Holdings seeks to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. The company is able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration and distribution efficiency. The company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space, and the partnership has a vitally needed patent now pending. For more information about the company, please visit www.ISWHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to ISWH are available in the company’s newsroom at http://ibn.fm/ISWH
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