Directors and Executive Management of C-Bond Systems Agree to Convert Over $100,000 of Deferred Compensation into Equity of the Company
Unanimous decision by directors and executive management emphasizes their belief in the long-term potential of the Company
HOUSTON, Dec. 16, 2019 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology company that improves and strengthens glass, announced today that all members of its Board of Directors and the executive officers of the Company have agreed to convert deferred compensation into equity of the Company.
The Board and executive team made the decision to convert $108,000 of their deferred compensation into equity to help the Company’s expansion and reduce outstanding liabilities.
“This choice by our Board and the executive management of the Company further underscores our belief in the strength of our technology and relationships, and ultimately the long-term potential of the Company,” said Scott R. Silverman, the Company’s Chairman and CEO.
About C-Bond
C-Bond Systems, Inc., headquartered in Houston, Texas, is an advanced nanotechnology company and sole owner, developer and manufacturer of the C-Bond technology. C-Bond is a patent-protected nanotechnology that is scientifically tested and commercially proven to significantly increase the strength, safety and performance levels of glass and window film products. For more information visit us at www.cbondsystems.com, on Facebook, or Twitter or watch our corporate video at: https://youtu.be/Oq2kYHmWOtk.
Statements in this press release about our future expectations, including the likelihood that the Board’s and executive management’s decision to convert deferred compensation into equity will help the Company’s expansion and reduce outstanding liabilities, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, C-Bond’s ability to raise capital; the Company’s ability to successfully commercialize its products; as well as other risks. Additional information about these and other factors may be described in the Company’s filings with the Securities and Exchange Commission (“SEC”) including its Form 10-K filed on April 1, 2019, its Forms 10-Q filed on November 14, 2019, August 12, 2019, and May 10, 2019, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Contact: Allison Tomek C-Bond Systems 6035 South Loop East Houston, TX 77033 atomek@cbondsystems.com Facebook: https://www.facebook.com/cbondsys/ Twitter: https://twitter.com/CBond_Systems Instagram: https://www.instagram.com/cbondsystems3/
Released December 16, 2019
