Humbl Inc Stock Price, News & Analysis

HUMBL, Inc. (OTCQB: HMBL) has announced an amendment to its certificate of incorporation, extending limitations on Series B preferred stock conversions. The changes include:

• No conversions from June 2023 through September 2023
• to 500 Series B shares per month from October 2023 to June 2024
• to 1,000 Series B shares per month from July 2024 to December 2024

This amendment, effective June 1, 2023, is part of HUMBL's broader restructuring plan aimed at recapitalizing the company, consolidating and retiring existing debt, and reducing dilution. The goal is to drive shareholder value and strengthen the company's balance sheet, preparing for a potential uplisting to a major exchange.

HUMBL Inc (OTCQB: HMBL) has secured a funding commitment of up to $21 million as part of a comprehensive plan to recapitalize the company and pursue uplisting to a major exchange. The funding includes:

1. An Equity Financing Agreement with Pacific Lion for up to $20 million in common stock purchases.

2. A Convertible Promissory Note from Pacific Lion for up to $800,000.

3. $220,000 raised through the sale of common stock and warrants to private investors.

This restructuring aims to consolidate and retire existing debt, reduce dilution, and strengthen HUMBL's balance sheet. The company also plans to file a Regulation A+ offering to raise up to $75 million from the general public. HUMBL is working with Pacific Lion to capitalize the company and prepare for a potential uplisting within a 6-18 month timeframe.

On April 25, 2023, the Santa Cruz County Board of Supervisors unanimously approved HUMBL, Inc. to develop a digital wallet program utilizing blockchain technology for various government services, including bicycle and RV parking registrations. The digital wallet aims to enhance trust, transparency, and efficiency in government operations. The initiative follows a proposal accepted on April 12, 2022, at no cost to the County, and it aligns with California's Senate Bill 786, which permits digital issuance of vital records. HUMBL's CEO, Brian Foote, expressed pride in piloting this project in California, targeting a service that benefits all Santa Cruz residents. A formal report on the project's progress is expected in early September 2023.

HUMBL, Inc. (OTCQB: HMBL) has launched a new Web 3 community badge and loyalty program called Humblnauts, aimed at verified HUMBL social media members. This initiative, developed in collaboration with DeltaFlare, includes various digital badges representing member contributions and statuses, such as Founder and Visionary.

The program will reward community members for content creation and innovation on the HUMBL platform, with special badges for first responders. The badges are authenticated via the BLOCKS Registry for verified ownership.

CEO Brian Foote highlighted the potential of Web3 in enhancing digital engagement, as HUMBL aims to foster community interaction and expand its offerings with periodic updates to the Humblnauts collection.

On April 12, 2023, HUMBL launched merchant payment support for major credit cards, including Visa, Mastercard, American Express, and Discover. This feature is part of HUMBL's integrated platform, which serves as a digital wallet, search engine, social media hub, and marketplace. The platform aims to combat issues like fake profiles and unreliable reviews by ensuring that all users are verified through a third-party provider.

Merchants can directly engage with customers through the HUMBL Wallet, offering special promotions without traditional advertising methods. The payment option is valuable for mobile merchants in various industries, allowing cashless transactions without hardware. Initially, credit card payments will be available in several countries, including the United States, Canada, and European nations.