HUMBL retires over $19M in debt since start of 2023

HUMBL announced the following major milestones have been achieved in accordance with its comprehensive plan for company debt reduction. One of HUMBL’s primary strategic goals for 2023 was to strengthen its balance sheet through the reduction of debt. Beginning with the Tickeri spinout, HUMBL has now successfully retired over $19,000,000 in debt since January 1, 2023. This was accomplished in part by successfully negotiating the settlement of debts through the issuance of HUMBL shares, in many cases, at prices above the market price of the stock. In addition to the reduction in debt, HUMBL has also now fully satisfied its $2,200,000 settlement with Forwardly, Inc. The final $440,000 installment payment of the $2,200,000 was made to Forwardly, Inc. on June 14, 2023 in full satisfaction of this obligation. The Company can now focus more of its capital on core operations and retiring remaining debt. In an effort to minimize dilution, and reduce selling pressure on the stock, HUMBL also amended the terms of Series B preferred stock to prevent any conversions into common stock from June 2023 through September 2023. Thereafter, monthly conversion allocations are limited to only 500 Series B for each shareholder from October 2023 to June 2024.