Global Vision Holdings, Inc. (OTCQB:GVHIB), as of today, is a 100 percent free of all toxic convertible debt from Asher Enterprises Inc. The Company made an oversight on taking toxic discount-convertible debt from Asher Enterprises Inc., due to our former CFO’s lack of understanding of toxic debt, which destroyed the Company’s stock price and market capitalization.
The full and final settlement of all claims asserted, or which could have been asserted in the Action, the Global Parties agreed to pay, and Asher agreed to accept, the aggregate sum of One Hundred Thousand Dollars ($100,000.00) (the “Settlement Amount”), which has been paid to Asher Enterprises Inc. through wire transfer on October 10, 2016. Refer to the attachment for additional information regarding all previous outstanding convertible notes.
We, the Company, would like to thank you for your vote of confidence and look forward to informing you of our progression via press releases in the near future. Global Vision Holdings Inc. is excited about its ability to capitalize on current and future prospects now that the weight of the toxic convertible debt has been eliminated.