Skip to main content

ViaDerma, Inc. Announces the Payment of all Toxic Convertible Notes and Has Become Debt Free

Written by Customer Service on . Posted in Public Companies.

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 $869,900 and was spread out over five notes held by multiple creditors dating back to 2016, issued for monies received between 2016 to 2018. Conversion of the notes could have resulted in the issuance of more than 600 million shares of Company stock. After weeks of negotiation, ViaDerma management was able to reach settlements with the individual noteholders totaling only 70 million shares of ViaDerma stock in exchange for the cancellation of all the notes and the entire debt. As a result of this payment which was completed last week the Company is now completely debt free.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 $30,000 per month since it began two months ago. The Company receives $5,000 per month for each state in which the licensee is doing business. The licensee is currently in six states and expects to expand to more states within the next 30-60 days.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.comAny 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

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.