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Ubiquitech Software Corp (OTCMKTS:UBQU) Provides Shareholder Update

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Ubiquitech Software Corp

Ubiquitech Software Corp (OTCMKTS:UBQU) through its subsidiary unit HempLife Today™, a unique and growing firm offering the finest Hemp products derived from Hemp, updated shareholders on latest developments and clarifying data linked to its name change and debt structure.

The details

As outlined in the firm financial report uploaded to OTC marketplace, Ubiquitech has long-term convertible debt from numerous shareholders that helped the firm release its operations during 2013 and 2014. The mentioned debt instruments can be converted at the firm par value. These shareholders have the right to convert equity from time to time at their decision but are restricted as to their percentage title in the company.

Ubiquitech also has the privilege to pay down parts of this debt at its choice. As previously reported, the firm has closed down a part of this debt and will endure to do so as business status permit. The firm focus remains on its efforts on growing its earnings and revenues and will continue to use its resources appropriately for the advantage of all investors and the long-term growth of the firm. Any modifications in the capital structure will be revealed in the firm’s annual and quarterly reports as required.

The firm had previously reported that it was working on a symbol and name change in an attempt to reflect Ubiquitech as being solely in the Hemp division.

However, after recent advancements and numerous growing new opportunities in the Technology division, and related to the firm’s internal marketing and technology stand, the Board has taken the decision that the existing, and broader appeal, of the current name will fit more appropriately, and better serve the firm and its shareholders as the firm expands.

Ubiquitech continues to work on its HempLife Today subsidiary, and seeks to better leverage its processes and software into other profitable industry divisions.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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