BFCH Clears $2M In Convertible Debt, Paving Way For Future Growth -

(MENAFN- Evertise Digital) BitFrontier Capital Holdings, Inc. (OTC: BFCH) has announced the complete retirement of all outstanding legacy convertible debt obligations, totaling over $2 million. This move is part of the company's broader strategy to restructure its finances and restore shareholder confidence under the guidance of its newly appointed CEO, Dr. Jordan P. Balencic. The debt was redeemed to common equity at $0.01 per share, a price that represents a 2,400% premium above the current market price, underscoring the company's commitment to responsible governance and financial health.

The settlement terms include a hard cap of 200 million shares of common stock for the converting noteholder, with all original convertible debt instruments fully satisfied and extinguished. Additionally, the company has secured a full and irrevocable release of all prior claims and obligations. Dr. Balencic described this development as the final chapter of the old BFCH, emphasizing the elimination of toxic notes and the establishment of a clear path forward for the company.

With this debt clearance, BFCH's balance sheet now shows no convertible debt and total liabilities reduced to under $94,000, a more than 95% reduction. The company plans to further decrease or eliminate these remaining liabilities in the coming months. Looking ahead, BFCH aims to update its OTC Markets profile, launch a new corporate website and brand identity, publish a strategic business plan with uplisting milestones, engage in early-stage fundraising discussions, and execute a letter of intent or memorandum of understanding to add at least $1 million in accretive assets to its balance sheet.

Dr. Balencic has also committed to not taking compensation as CEO until key milestones are achieved, reinforcing his dedication to the company's turnaround and growth. This strategic financial restructuring and forward-looking initiatives signal BFCH's transition into a new phase focused on value creation and market repositioning.

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