Business
Exxe Group Outlines Shareholder-Friendly Debt Restructuring Plan
Exxe Group Outlines Shareholder-Friendly Debt Restructuring Plan.
About this update from Exxe Group Inc.
[{"type":"text","content":"Restructuring plan lowers debt servicing costs and improves cash liquidityCertain debt maturities are to be eliminated or extended by up to 60 monthsPlan currently addresses approximately $5 million of debtNEW YORK, NY / ACCESSWIRE / June 14, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), a diversified fintech company, is pleased to outline a shareholder-friendly debt restructuring plan that addresses certain indebtedness currently approximating to $5 million.Eduard Nazmiev, Ph.D., Exxe Group's CEO said: "Exxe Management has worked for several years to improve the balance sheet. With consistent revenue improvements and profits spanning several Quarters, Management is addressing corporate liabilities. We are accordingly very grateful for the kind cooperation extended to us by our creditors."Debt Restructuring OverviewExxe Groups' debt restructuring plan is a series of debt profile optimizations that reduce interest expenses, reprofiles maturities on certain debts by up to 36 months, minimizes impacts to the outstanding share count, and maximizes long-term appreciation potential for AXXA shareholders.The plan currently covers in-default debt totaling $5 million and near-term maturities totaling $5 million. Changes will be reflected on the Q1 2022 balance sheet and detailed in the corresponding notes section.Exxe has already identified $238,124 in possible toxic convertible debt from the corporate balance sheet. This debt has been eliminated from the balance sheet with no shares issued in conjunction with this elimination.As a result of eliminating identified possible toxic debt conversions, Exxe renegotiated an additional $538,521 of debt with other creditor groups. These reprofiled debts now have significantly improved terms, various maturity windows ranging up to 36 months, and the option of additional extensions.The Company is also entering a series of additional creditor negotiations with the expectation of debt windows being extended by up to 60 months. To this end, Exxe Group will release additional updates in the coming weeks and months.About Exxe Group, Inc.Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire contr...