Sunstock announces full settlement of outstanding convertible debt

By Sarah Lizee

Olympia, Wash., Feb. 18 – Sunstock, Inc. announced the full settlement and discharge of all of its corporate outstanding convertible debt.

The payoff stops any further conversion of the debt into common stock, immediately eliminating common share dilution from those sources.

In January, Sunstock reached settlement agreements with four noteholders, including Power-up Lending, Inc., Auctus Fund, LLC, EMA Financial, LLC and EMA Financial, LLC. Those holders released all claims against Sunstock, and the company released all claims against the noteholders.

“We believe paying off the company’s debt makes SSOK more financially stable as we continue to grow our precious metals business, gold-backed digital currency, and other exciting initiatives,” Jason Chang, chief executive officer of Sunstock, said in a news release.

Sunstock is involved in the acquisition and distribution of precious metals, primarily gold. It is based in Sacramento.

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