Sports Venues of Florida Announces it Has Satisfied All Outstanding StarCity Capital, LLC, Convertible Notes Saving Billions of Shares of Dilution
Tampa, FL - (NewMediaWire) - June 15, 2020 - Today, Sports Venues of Florida, Inc., (OTCMKTS: BTHR) an emerging leader in the eSports, youth sports, and family sports entertainment markets, announces it has retired all convertible notes issued to StarCity Capital, LLC. The original notes were issued on January 16, 2013, March 5, 2013, March 28, 2013, April 29, 2013, June 6, 2013 and July 1, 2013. With principal, interest, both default and non-default, the total paid to successfully retire all outstanding notes was $197,070. The final installment of $32,070 was paid Friday, June 12, 2020. All StarCity Notes were issued when the Company operated as Big Three Restaurants. None of these notes were related to the Company’s current operations.
John V. Whitman Jr., the Company’s Chairman and CEO, said, “First and foremost, I want to thank StarCity Capital, LLC., and it’s ownership for working with us to reach a settlement agreement that called for the Company to make timely payments in lieu of them submitting toxic conversion notices. If StarCity had submitted conversions, given the fragile trading history of BTHR at the time the settlement was reached, it would have required issuance of billions of shares and massive dilution. Additionally, I am certain had this settlement not been reached our stock price would have been sub-penny and remained there. We are working very hard for our shareholders. We are very proud of what we have been able to accomplish during this difficult time in US and world financial markets.”
Sports Venues of Florida, Inc., is a developmental stage company engaged in the business of eSports, and the development of youth sports and family entertainment complexes. The Company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. The Company has placed on hold its plans to build sports complexes ranging from 80-acres to 300-acres that will include both outdoor and indoor athletic competitions. In addition, the Company plans on operating a number of subsidiary companies from high tech data management businesses to product and support businesses.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections, as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There is no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Sports Venues of Florida, Inc.
For Additional Information Contact:
John V Whitman Jr.,