Waste Energy Corp Closes Deal to Reduce its Debt by $1 Million

Rhea-AI Summary

Waste Energy Corp (OTCQB:WAST) has successfully closed agreements to reduce its debt obligations by over $1 million. The debt reduction was achieved through a combination of restructuring, forgiveness, and the issuance of 3,414,760 restricted common shares at approximately $0.29 per share.

The shares issued in the debt exchange come with trading restrictions of at least 90 days. The company aims to further reduce its total debt to below $2 million by quarter-end as part of its strategy to enhance financial flexibility and drive growth in its waste-to-fuel operations.

Positive

• Successful elimination of $1,005,726 in debt obligations
• Shares issued at $0.29 per share in debt exchange, showing confidence in company value
• Active discussions ongoing for additional debt reduction initiatives
• Strategic plan to reduce total debt below $2 million by quarter-end

Negative

• Dilution of shareholder value through issuance of 3,414,760 new restricted shares
• Company still carries significant debt load requiring further reduction

News Market Reaction

+2.78%

1 alert

+2.78% News Effect

On the day this news was published, WAST gained 2.78%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MIDLAND, TX / ACCESS Newswire / August 18, 2025 / Waste Energy Corp (OTCQB:WAST), a clean energy company converting waste plastic and tires into marketable fuels and other valuable products, today announced the successful closing of agreements to reduce more than $1 million of debt obligations.

The Company finalized transactions on Friday, August 15, 2025, eliminating $1,005,726 in debt through a combination of debt restructuring, forgiveness, and the issuance of 3,414,760 restricted common shares. The shares were issued at an aggregate value of over $0.29 per share in the debt exchange, with all agreements including trading restrictions of at least 90 days.

"This milestone reflects our continued long term commitment to strengthening the Company's balance sheet while preserving shareholder value," said Scott Gallagher, Chief Executive Officer of Waste Energy Corp. "Reducing liabilities by more than $1 million positions us to focus resources on scaling operations, advancing our technology, and driving growth."

Management noted that the Company is in active discussions on additional debt reduction initiatives, with the goal of reducing total debt to below $2 million by quarter-end as part of its strategy to enhance financial flexibility and accelerate progress toward sustained profitability.

About Waste Energy Corp

Waste Energy Corp (OTCQB:WAST) is transforming waste into opportunity by converting non-recyclable plastics and used tires into clean, U.S.-based energy sources. Through the integration of advanced waste conversion and AI technologies, the company seeks to divert waste from landfills and convert it into new U.S.-based energy streams that generate measurable environmental and economic value.

Waste Energy Corp is a fully reporting SEC Exchange Act company, trading on the OTCQB under the ticker symbol WAST. For more information, visit www.WEC.eco or access investor disclosures at www.SEC.gov.

Forward-Looking Statements

This press release and any other publicly disclosed content contain forward-looking statements regarding Waste Energy Corp's business operations, future financial performance, and projections. These statements are subject to various risks and uncertainties, including market conditions, regulatory approvals, and other factors outside of the control of WEC, which may impact actual results. Investors are encouraged to review all risk factors and disclosures in the company's public filings with the Securities and Exchange Commission, including the Company's quarterly and annual financial statements at www.SEC.gov, before making any investment in a publicly traded equity.

Investor Contact:
Waste Energy Corp
Email: IR@WEC.eco
Phone: (727) 417-7807
Website: www.WEC.eco

SOURCE: Waste Energy Corp.

View the original press release on ACCESS Newswire

FAQ

How much debt did Waste Energy Corp (WAST) reduce in August 2025?

Waste Energy Corp reduced $1,005,726 in debt through debt restructuring, forgiveness, and the issuance of restricted common shares.

How many shares did WAST issue for the debt exchange in August 2025?

WAST issued 3,414,760 restricted common shares at approximately $0.29 per share as part of the debt reduction transaction.

What is Waste Energy Corp's debt reduction target for Q3 2025?

The company aims to reduce its total debt to below $2 million by quarter-end.

What trading restrictions apply to WAST's newly issued shares?

The shares issued in the debt exchange include trading restrictions of at least 90 days.

What is Waste Energy Corp's business focus?

Waste Energy Corp is a clean energy company that converts waste plastic and tires into marketable fuels and other valuable products.