FAQ: BFCH's Strategic Debt Elimination and Future Plans
Summary
BitFrontier Capital Holdings, Inc. (BFCH) has successfully eliminated over $2 million in convertible debt at a significant premium, marking a pivotal step towards financial restructuring and future growth under new leadership.
What did BFCH announce regarding its convertible debt?
BFCH announced the full retirement of all outstanding legacy convertible debt obligations, eliminating over $2 million in debt at a premium of approximately 2,400% above the current market price.
Why is the elimination of this debt significant for BFCH?
This move eliminates a significant financial overhang, reduces total liabilities by more than 95%, and sets the stage for a transformative new chapter under the Company’s new CEO, Dr. Jordan P. Balencic.
How was the convertible debt settled?
The debt was settled by converting it to common equity at $0.01 per share, with a hard cap of 200 million shares, and all original convertible debt instruments have been fully satisfied and extinguished.
What are BFCH’s near-term plans following this debt elimination?
BFCH plans to update its OTC Markets profile, launch a new corporate website and brand identity, publish a strategic business plan, initiate early-stage fundraising discussions, and execute a letter of intent to add at least $1 million in accretive assets to the balance sheet.
Who is leading BFCH through this transformation?
Dr. Jordan P. Balencic, the recently appointed CEO, is leading the company through this transformation and has confirmed he will not take compensation until key milestones are achieved.
What is the current state of BFCH’s liabilities after this debt elimination?
After eliminating the convertible debt, BFCH’s total liabilities have been reduced to under $94,000, a reduction of more than 95%.
Where can I find more information or contact BFCH?
For more information, you can contact BFCH directly through Dr. Jordan P. Balencic at 813-693-1377 or via email at [email protected].
What does BFCH’s forward-looking statement cover?
The forward-looking statement covers debt elimination, capital structure, corporate governance, future milestones, uplisting plans, asset acquisition, and shareholder value, but actual results may differ due to various risks and uncertainties.
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