Breaking #Sports/ #eSports #Stock News - Sports Venues of Florida (OTCMKTS: $BTHR) announces it has satisfied all outstanding StarCity Capital, LLC, convertible notes saving Billions of Shares of dilution; @sportsvenuesfl
TAMPA, FL, June 15, 2020 (Investorideas.com newswire) – Breaking Sports/e-sports news - Today, Sports Venues of Florida, Inc., (OTCMKTS: BTHR) an emerging leader in the eSports, youth sports and family sports entertainment markets, announces it has retired all convertible notes issued to StarCity Capital, LLC. The original notes were issued on January 16, 2013, March 5, 2013, March 28, 2013, April 29, 2013, June 6, 2013 and July 1, 2013.
Read this news featuring BTHR in full at https://www.investorideas.com/news/2020/sports/06151OTCBTHR-StarCityCapital.asp
With principal, interest, both default and non-default, the total paid to successfully retire all outstanding notes was $197,070. The final installment of $32,070 was paid Friday, June 12, 2020. All StarCity Notes were issued when the Company operated as Big Three Restaurants. None of these notes were related to the Company’s current operations.
John V. Whitman Jr., the Company’s Chairman and CEO, said, “First and foremost, I want to thank StarCity Capital, LLC., and it’s ownership for working with us to reach a settlement agreement that called for the Company to make timely payments in lieu of them submitting toxic conversion notices. If StarCity had submitted conversions, given the fragile trading history of BTHR at the time the settlement was reached, it would have required issuance of billions of shares and massive dilution. Additionally, I am certain had this settlement not been reached our stock price would have been sub-penny and remained there. We are working very hard for our shareholders. We are very proud of what we have been able to accomplish during this difficult time in US and world financial markets.”
About BTHR
Sports Venues of Florida, Inc., is a developmental stage company engaged in the business of eSports, and the development of youth sports and family entertainment complexes. The Company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. The Company has placed on hold its plans to build sports complexes ranging from 80-acres to 300-acres that will include both outdoor and indoor athletic competitions. In addition, the Company plans on operating a number of subsidiary companies from high tech data management businesses to product and support businesses.
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