E-Cite' CEO and COO Invest Heavily, Converting Loans and Deferred Compensation to Restricted Stock at Double Market Price Reducing Related Party Payables by over 90% and Total Liabilities by over 50%
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E-Cite Motors Group's CEO and COO have converted loans and deferred compensation into restricted stock, significantly reducing the company's liabilities.
November 14, 2024 | 12:45 pm
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E-Cite Motors Group's CEO and COO have converted loans and deferred compensation into restricted stock at double the market price, reducing related party payables by over 90% and total liabilities by over 50%.
The conversion of loans and deferred compensation into restricted stock at double the market price by the CEO and COO is a strong vote of confidence in the company. This action significantly reduces liabilities, which is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100