ZIVO Bioscience Restructures Debt with Debt Settlement Agreements

On November 12, 2024, ZIVO Bioscience, Inc. entered into a Debt Settlement Agreement with creditors Howard Shapiro, Merger Masters Pension Fund, and Financial Trading Consultants Pension Fund to restructure certain debts. The Company issued unsecured promissory notes to each creditor in exchange for settling existing debts.

Under the terms agreed upon, ZIVO issued individual notes to Howard Shapiro, Merger Masters Pension Fund, and Financial Trading Consultants Pension Fund in the amounts of $185,497.12, $40,331.51, and $51,425.75, respectively, totaling $277,254.38. These notes are payable in 24 equal monthly installments starting from November 30, 2024, with an annual interest rate of 1.0%.

Each note is subject to standard events of default, where the outstanding principal may become due should such events occur, at the option of the respective creditor. Additionally, the principal balance can be prepaid at any time without penalties. Copies of the Debt Settlement Agreements and promissory notes are attached to the Current Report on Form 8-K filed with the Securities and Exchange Commission.

This summary only outlines the key points, and for a comprehensive understanding, reference should be made to the full documentation provided in the agreements and notes. For further details, interested parties can refer to the official Form 8-K filing by ZIVO Bioscience, Inc.

The Company duly signed the report on November 15, 2024, represented by Keith Marchiando, the Chief Financial Officer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ZIVO Bioscience’s 8K filing here.

ZIVO Bioscience Company Profile

ZIVO Bioscience, Inc, a research and development company, engages in licensing and selling natural bioactive ingredients derived from its proprietary algae cultures to animal, human, and dietary supplement and medical food manufacturers. The company operates in the biotech and agtech sectors, with an intellectual property portfolio comprising proprietary algal and bacterial strains, biologically active molecules and complexes, production techniques, cultivation techniques, and patented or patent-pending inventions for applications in human and animal health.