The latest update is out from Recruiter Group (RCRT).
Recruiter.com Group, Inc. navigated complex financial restructuring by converting debt into equity, issuing new shares, and settling outstanding promissory notes to strengthen its balance sheet. The company issued promissory notes totaling over $2.4 million, later defaulting and negotiating with noteholders to extend maturities, convert debt to common stock, and adjust terms favorably. These strategic moves aimed to satisfy Nasdaq’s listing requirements, enhance solvency, and position the company for future growth and acquisitions. Notably, the board and majority shareholders greenlit a private stock offering, potentially raising over $5 million to fund operations and growth initiatives, demonstrating proactive management of the company’s financial obligations and equity structure.
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