Life On Earth, Inc. Completes Conversion of $2.23 Million of Debt Into Equity, Improving the Company's Balance Sheet
24 Novembro 2021 - 11:50AM
InvestorsHub NewsWire
Life On Earth,
Inc. Completes Conversion of $2.23 Million of Debt Into Equity,
Improving the Company's Balance Sheet
The Company Moves Forward With CareClix
Acquisition
New York, November 24, 2021 - Life on Earth Inc,
(OTC Pink:
LFER) ("LFER" or "The
Company"), a
software and technology company, announced today that it has
converted over $2.23 million of its debt into equity, eliminating
the potential future convertibility of debt which has been settled
over the past two quarters to date.
The Company's investors, collectively over the past two fiscal
quarters to date, have already settled their convertible debt
totaling over $2.23 million dollars, including principal and
accrued interest, into LFER common and preferred shares at fixed
prices.
Mr. Mahmood Khan, LFER's CEO added, "Since the first day I came on
board, I have been working with the Company's previous management
and its debt holders to make arrangements to alleviate the
Company's balance sheet of this burdensome debt. This debt, along
with most of the Company's past litigation issues, which have been
settled with the help of our loyal investors, constituted about
$2.23 millions of dollars of our total liabilities outside of the
payables from our normal course of business. We have made
tremendous progress and we are now preparing the path forward to
proceed with our previously announced acquisition of the CareClix
Holdings Group of companies that will allow us to function with a
much-improved balance sheet position. We look forward to the
closing of the CareClix Group acquisition, and what it will mean in
terms of overall revenues on a consolidated basis as well as growth
going forward into 2022."
About Life on Earth Inc.
Life on Earth,
Inc. (LFER) is a cloud enterprise software developer and a
provider that enables rapid innovation that keeps the enterprise
operations safe, compliant and manageable. The products were
designed to help organizations innovate and modernize legacy
systems while minimizing cost and risk of business disruptions and
ensure regulatory compliance. For more information, please visit
our corporate website - www.lifeonearthinc.com Investors
and corporate inquiries, please contact: info@lifeonearthinc.com | (646)
844-9897
About CareClix Holdings,
Inc.
CareClix is a leading virtual telehealth platform. The company
provides software applications coupled with medical services
enabling patients to receive care anytime at anyplace. CareClix's
suite of services is transforming the way hospitals, doctors, and
clinical care providers can interact with an increasing number of
patients. Trusted by some of the best names in healthcare, CareClix
has an established track record of success partnering with
organizations and customers. More than 20 million individuals in
the U.S. in over 60 countries are currently utilizing CareClix's
services. CareClix Inc. is a wholly-ownedwholly owned subsidiary of
Solei Systems Inc. (OTC:
SOLI). Learn more about CareClix by visiting our
website: www.careclix.com.
Forward-Looking Statements: This release contains statements that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of Life
oOn Earth, Inc. its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Life On Earth, Inc.'s
ability to control, and actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. No information in this press release should be
construed in any way whatsoever as an indication of Life On Earth,
Inc.'s future revenues, financial performance or stock price. More
information about the potential factors that could affect the
business and financial results is and will be included in
Life oOn Earth, Inc.'s filings
with the Securities and Exchange Commission at www.sec.gov.
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