Ubiquitech Reports Convertible Debt Forgiveness in Excess of $1,000,000
DENVER, CO, June 22, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Ubiquitech Software Corp. (OTC: UBQU) is pleased to announce that during its fiscal second quarter, more than $1,000,000 of convertible debt principal and accrued interest has been forgiven by its largest lender. On May 2, 2023, a judgment was entered against GPL Ventures and other GPL parties in a case captioned SEC v. GPL Ventures et al., 21 Civ. 6814 (S.D.N.Y.). The judgment requires GPL Ventures to surrender to Ubiquitech Software Corp. all unconverted convertible notes in their entirety as identified in an appendix to the judgment. The final numbers will be reflected in the company’s financial statements filed with OTCMarkets.com on or before July 15, 2023.
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