ViaDerma, Inc. Announces the Payment of all Toxic Convertible Notes and Has Become Debt Free
ViaDerma, Inc. (VDRM) announced on March 16, 2021, that it has eliminated over $869,900 in toxic convertible debt, becoming completely debt-free.
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Rhea-AI Summary
ViaDerma, Inc. (VDRM) announced on March 16, 2021, that it has eliminated over $869,900 in toxic convertible debt, becoming completely debt-free. The company settled with creditors to convert outstanding notes into only 70 million shares, significantly reducing potential shareholder dilution. CEO Dr. Chris Otiko emphasized that this milestone allows the company to focus on increasing sales and self-funding future operations. Additionally, ViaDerma's licensing agreement for its Vitastem product has generated $30,000 in monthly revenue across six states, with planned expansions in the near future.
Positive
- Elimination of over $869,900 in toxic convertible debt.
- Reduced potential dilution from 600 million shares to 70 million shares.
- Monthly revenue of $30,000 from Vitastem licensing, with plans for expansion.
Negative
- None.
Details
News Market Reaction – VDRM
The recorded move for VDRM in the trading session of this news was +71.43%.
Data tracked by StockTitan Argus. Session date unavailable.
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The Company expects to completely self-fund all operations going forward
LOS ANGELES, March 16, 2021 (GLOBE NEWSWIRE) -- ViaDerma, Inc., (“Company”) (OTC Pink: VDRM), is pleased to announce they have paid off all outstanding toxic convertible debt and the Company is now completely debt free.
The total debt amounted to more than
Dr. Chris Otiko, ViaDerma President and CEO said, “Being completely out of debt is a major milestone for us. With this behind we can now focus all of our attention on increasing sales and continuing to expand our business. My expectation is that we will be able to self-fund all of our operations from this point on and should no longer require to take on any debt.”
ViaDerma also announced the licensing agreement they entered into in January 2021 for use of its Vitastem product has resulted in revenues of
About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, visit: www.viadermalicensing.com
Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.
Contact information:
Investor Relations
Email: info@viadermalicensing.com
Phone:
310-374-6111
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