Kartoon Studios to Issue 2.55M Shares to Settle $1.46M Debt

Kartoon Studios, Inc. has entered into an agreement with Continuation Capital, Inc. (CCI) to settle past due obligations and accounts payable totaling $1,458,884. Under the agreement, the company will issue 2,553,047 shares of its common stock to CCI. The agreement, which was approved by the Florida Circuit Court and NYSE American, allows the company to reduce its liabilities but will result in dilution for existing shareholders.