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E-Cite Motors Eliminates Additional 671,000 Shares Through Debt Reduction, Continuing Aggressive Efforts to Minimize Dilution and Build Shareholder Value
E-Cite Motors Eliminates Additional 671,000 Shares Through Debt Reduction, Continuing Aggressive Efforts to Minimize Dilution and Build Shareholder Value.
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[{"type":"text","content":"\r\n\r\n \r\n \r\n E-Cite Motors Eliminates Additional 671,000 Shares Through Debt Reduction, Continuing Aggressive Efforts to Minimize Dilution and Build Shareholder Value\r\n \r\n \r\n\r\n\r\nE-Cite Motors Eliminates Additional 671,000 Shares Through Debt Reduction, Continuing Aggressive Efforts to Minimize Dilution and Build Shareholder Value\r\n\r\n\r\n\r\n\r\n\r\nCompany Reinforces Commitment to Minimizing Dilution While Leveraging Its Regulatory Advantages Over Traditional OEMs BOTHELL, WASHINGTON / ACCESS Newswire / October 7, 2025 / Innovative EV Technologies, Inc. dba E-Cite Motors Group, Inc. (OTCID:VAPR), a pioneering low-volume electric vehicle (EV) manufacturer, today announced that it has further eliminated approximately 671,000 additional shares of potential dilution by paying down its debt tied to the Convertible Promissory Note dated May 13. This proactive step further reduces the Company's share overhang, reinforcing its commitment to protecting shareholders while strengthening its capital structure.https://app.accessnewswire.com/imagelibrary/59e32330-094e-4bdd-b3c4-2376967f265b/1083761/create-a-picture-of-make-the-words-5-smaller-2025.png \r\n This repayment is part of a broader, ongoing initiative by E-Cite to minimize any potential increase to its share structure, instill investor confidence, and maximize shareholder value. By strategically reducing convertible obligations, E-Cite demonstrates that it is building a foundation for sustainable growth while limiting dilution risks that often weigh on early-stage public companies.\r\n This repayment follows E-Cite's recently announced Stock Lock-Up Agreement, under which over 90% of potential conversions were voluntarily locked up by its largest noteholder That milestone eliminated tens of millions of shares from conversion risk and demonstrated a shared commitment between management and its financial partners to protect shareholders and build long-term value.\r\n Taken together, the lock-up agreement and the latest debt paydown represent a two-pronged strategy to minimize dilution, instill investor confidence, and enhance shareholder value while positioning the Company for accelerated growth.\r\n Barry Henthorn, CEO of E-Cite Motors, commented: \"Today's announcement is another powerful example of how E-Cite is executing on its promise to protect shareholders a...