GivBux, Inc. Eliminates $100,000 in Convertible Debt, Strengthening Financial Position
Newport Beach, Calif., Feb. 21, 2025 (GLOBE NEWSWIRE) -- GivBux, Inc. (OTC: GBUX) ( "GivBux " or the Company "), a publicly traded Super App and charitable giving platform, today announced the retirement of $100,000 in outstanding convertible notes. This strategic move effectively reduces the Company 's liabilities without issuing additional stock, thereby preserving shareholder value.
Umesh Tim Singh, President of GivBux, Inc., said, "This was a significant step in cleaning up the balance sheet, which also removed the overhang created by the convertible notes. By retiring this debt without diluting our shareholders, we are reinforcing our commitment to financial stability and positioning the company for sustainable growth.
This development follows GivBux 's recent strategic initiatives, including Letters of Intent for a $39 million acquisition of VitorganAmerica.shop to expand its wellness product offerings and a $100 million capital infusion aimed at developing an international payment platform and expanding operations into Canada, Mexico, and the UAE. These efforts underscore GivBux 's dedication to enhancing its service portfolio and extending its global reach.
About GivBux, Inc.
The GivBux Super App revolutionizes shopping by offering a user-friendly tool to make purchases swiftly and efficiently at over 100 national retailers and an expanding roster of local merchants. Users earn cash back on every purchase, a portion of which can be directed towards a charity of their choice, embodying GivBux Inc. 's commitment to "give back. "
The GivBux Super App is free to use and available now on the Google Play Store (Android) and the Apple App Store (IOS). The GivBux Super App constantly evolves and adds new enhancements and functionalities, including social networking, e-commerce, banking, messaging, food delivery, and transportation.
GivBux is forging a new path in e-commerce and charitable giving and aspires to build the largest community of givers, first in the United States and eventually worldwide. For more details and regular updates, visit https://givbux.com.
This press release contains “forward-looking statements.” Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by GivBux, Inc. in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. The Company intends that all statements included herein, including those referring to future revenues and earnings, be subject to the "Safe Harbors " provision of the Private Securities Litigation Reform Act of 1995.
Contact:
Umesh Singh, President
Email: ir@Givbux.com
www.GivBux.com
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