Phantom Power Limited entered into an agreement to acquire Monster Creative, LLC from HUMBL, Inc..
July 10, 2023
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Phantom Power Limited entered into an agreement to acquire Monster Creative, LLC from HUMBL, Inc. (OTCPK:HMBL) on June 30, 2023. The purchase price shall be paid by: (i) reducing the outstanding balance of that certain Convertible Promissory Note issued by HUMBL on June 21, 2021 in favor of Phantom Power Limited in the original principal amount of $6.52 million by $1 million, such that the amount of the Convertible Note, after the Balance Reduction and all other reductions pursuant to separate transactions between Phantom Power Limited and HUMBL prior to the Effective Date, shall be $2.3 million, and (ii) cancelling that certain Promissory Note made by HUMBL in favor of Phantom Power Limited in the original principal amount of $0.43 million. Daniel Callender of Nevers, Palazzo, Packard, Wildermuth & Wynner, PC acted as legal advisor to Phantom Power.
Phantom Power Limited completed the acquisition of Monster Creative, LLC from HUMBL, Inc. (OTCPK:HMBL) on June 30, 2023.
HUMBL, Inc. is a Web 3, digital commerce company, which connects consumers, businesses and governments in the digital economy. The Company provides tools and packaging for technologies, such as blockchain. It is built on a patent-pending, decentralized technology stack that utilizes both core and partner technologies, to provide connections to the digital economy and each other. The Company is organized into two divisions: HUMBL Consumer and HUMBL Commercial. It delivers a digital wallet and Website as its core services. Its services include HUMBL Wallet, HUMBL.com-Website and HUMBL Commercial Services. The HUMBL Wallet consolidates a variety of services for customers in one place and helps it to verify customers and merchants. The HUMBL Wallet is available for download on app stores. HUMBL Website consists of HUMBL Search Engine, HUMBL Tickets, HUMBL Marketplace, HUMBL Social Media and HUMBL Metaverse Stores. HUMBL is the Official Technology Platform of the Arena Football League.