HUMBL Inc. (OTC:HMBL) Stock In Action After Latest Update
There are certain companies that are expected to be in focus among investors this morning in light of the recent developments, and one of those is expected to be HUMBL Inc. (OTC:HMBL). On Monday, it came into focus following a key announcement from the company, and it may be a good idea to take a closer look into it.
HUMBL announced yesterday that it had entered into a two-year partnership with American mixed martial artist Erin Blanchfield pertaining to sports memorabilia. Blanchfield is currently a competitor in the flyweight category in the UFC (Ultimate Fighting Championship). In this context, it is perhaps necessary to point out that Blanchfield is an emerging star in the UFC, and currently, she is ranked number 2 in the flyweight rankings. In the pound-for-pound ranking maintained by the UFC, she is ranked 5th.
Perhaps more importantly, she is undefeated in the UFC and boasts a 12-1 pro-MMA record. At the time of writing, she is on a winning streak that stretches to nine matches. In the news release yesterday, the company noted that she was a user of HUMBL Pro+ Social and had already begun posting on her verified profile on the HUMBL website. It has further been revealed that Blanchfield would also feature in a HUMBL Chat Q&A session through the HUMBL Chat Video services, which were launched recently.
In the early days of November this year, Blanchfield would also have her first signing on HUMBL Authentics. It was further noted that HUMBL Authentics users would need to submit their submissions by November 1. Brian Foote, the Chief Executive Officer of the company, called Blanchfield one of the top female fighters in the UFC. He went on to note that he looked forward to working with her across the suite of products from HUMBL.
On October 11, the company entered the news cycle after it emerged that HUMBL had inked a securities purchase agreement with the firm Pacific Lion. As per the terms of the agreement, Pacific Lion would provide the company with fresh capital to the tune of $2,040,000 over the course of a period of six months. In fact, at the time, the company announced that it had been provided with the first installment pertaining to the financing worth $300,000 by Pacific Lion. It had been provided as per the terms of the new funding structure. It was revealed at the time that, as per terms of financing, HUMBL would need to create a new Class C preferred stock that it would need to affect by way of an amendment in its structure.
At the time, it was revealed that the company would do that in the on-going week with the Secretary of State of Delaware. The new category of shares cannot be converted into common stock for up to two years; it would be prohibited from variable discount rate financings through new investors, and there would be a 25% automatic conversion discount if HUMBL got listed on a national exchange.
