Charles S. Arnold, Chairman and CEO of Stemtech, stated “in addition to the May 23rd announced Debt Restructuring from our institutional investors over the last month, the company requested that current debt obligations outstanding to myself, as well as board members, management and professional trade creditors convert all their existing debt with the company to equity at the current market.
Charles S. Arnold, Stemtech CEO, leads the charge as company reduces debt and expands equity position, signaling commitment to global stem cell nutrition market.
MIRAMAR, FL / ACCESSWIRE / June 13, 2023 / STEMTECH CORPORATION, (OTCQB:STEK)
Charles S. Arnold, Chairman and CEO of Stemtech, stated “in addition to the May 23rd announced Debt Restructuring from our institutional investors over the last month, the company requested that current debt obligations outstanding to myself, as well as board members, management and professional trade creditors convert all their existing debt with the company to equity at the current market. This request was accepted which now significantly reduces Stemtech’s debt obligations. Conversely, this affords the internal management and staff a larger equity position in the company, which also strengthens the Company by tying our fate to that of the Company’s success. I have converted all my salary from Stemtech since elected chief executive officer to allow the company this additional working capital to grow. Prior to acquiring the company in 2018, Stemtech International, the predecessor, was listed in Inc 5000 Magazine as one of the fastest growing companies in America four separate years. With this new elimination of obligations and additional debt servicing payments, the company can concentrate on an upgrade the technology and the look of the website, while developing new stem cell products for a global market and securing additional inventory to provide for the many new Independent Business Partners (distributors and customers)”.
Mr. Arnold continues by saying “This conversion of debt to equity from our investors and management team provides a message to the marketplace that Stemtech is planning to grow, and the management has the confidence to accept equity than the repayment on their debt obligations. Other companies are seeing the stem cell nutrition market as a growing opportunity. With Stemtech being the leader in this stem cell nutrition, insiders like myself continue to bet on our own company.”
Today, the stem cell industry is growing at an extremely fast rate. Stemtech pioneered the stem cell nutrition market. Mr. Arnold states “Our products allow for the natural release of the body’s own stem cells where the body literally rejuvenates itself without any medical procedure. The current culture that exists with our management and staff is excitement and positive for growing the company beyond the previous accomplishments.”
“These debt-to-equity conversions go into effect immediately and will be disclosed in the next Stemtech quarterly filing” commented securities attorney David E. Price, Esq. The conversions from debt to equity have changed the debtholders into shareholders that now have a significant vested interest in the success of Stemtech.
Jeff Weisberg, a former seasoned Herbalife distributor and world-renowned direct sales professional commented “After participating in the recent Stemtech training meetings in Mexico and Las Vegas, I am excited to share the Stemtech story with the world. These products are so important for the average person to have access for their well-being and health reasons. With the current rate of inflation, the average person can make money operating their own business while becoming healthier through the miracle of one’s own stem cells being released into the body. This reminds me of the beginning of HerbaLife when herbs were on an upward trend. Now it is stem cells and the market for Stemtech is global. I personally think we are in the right business at the right time”.
ABOUT STEMTECH
Stemtech Corporation, a leading stemceutical™ company with a direct sales distribution model, was founded on April 18, 2018, after acquiring the operations from its predecessor Stemtech International, Inc., which was established in 2005. From 2010 through 2015, Stemtech International, Inc., was recognized four separate times on the Inc. 5000 Fastest-Growing Companies list. In 2018, Stemtech underwent an extensive executive reorganization, and continued operations under new leadership as Stemtech Corporation. In August 2021, Stemtech became a publicly traded company (OTCQB: STEK) and has expanded business opportunities for its Independent Business Partners, who may earn incomes by sharing Stemtech products. January 2022 saw the introduction of new marketing efforts. In August 2022, Professor Doctor Bankole Johnson joined Dr. Enrique Martinez and Dr. Lizette Leos on the Stemtech Life Sciences Advisory Board. In September 2022, the new Stemtech AdvanceOffice mobile app based on the VERB Technology platform was successfully launched as a powerful communication - recruiting tool for our Field. In October, Life Factor Research became the Research and Development, product formulation - science division of Stemtech to create cutting-edge stemceuticals and other products. On November 1, 2022, Stemtech introduced the new travel/sample size OraStem® Toothpaste. On December 6, Stemtech announced the promotion of Alejandro Carrillo to the role of Vice President Global Sales from his current role as Managing Director Latin Markets. Stemtech introduced the new CellectOne™ Rapid Renew Stem Cell Peptide Night Cream at their December 2022 International Leadership Event in Cancun, Mexico. January 10, 2023 Stemtech appoints Margie and Mike Mares to Field Advisory Board. Stemtech has Ranked Number 11 in Momentum out of 700+ top Global MLM companies by Business For Home independent MLM publication, January 23, 2023. Stemtech conducted Field Leadership Business Academies in Aguas Calientes, Mexico May 25 - 27, and in Las Vegas, NV on June 1 - 3.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 15, 2023. We undertake no duty to update any forward-looking statement, or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Stemtech Corporation which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
Investor Relations:
Gabriel Rodriguez
Email: erelationsgroup@gmail.com
Ph: 623-261-9046
Stemtech
Phone: 954-715-6000 ext 1040
Email: invrel@stemtech.com
www.Stemtech.com
SOURCE: Stemtech Corporation
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