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AppYea Chairman Bary Molchadsky Demonstrates Confidence by Converting Debt to Warrants with a Strike Price Set at a 250% Premium to Current Market Price of the Company’s Common Stock

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NEW YORK, NY / ACCESSWIRE / May 16, 2024 / AppYea Inc. (OTCQB:APYP), developer of an innovative wearable monitoring solution to monitor and treat sleep apnea and snoring, today announced the conversion of the majority of debt owed to its Chairman, Boris (Bary) Molchadsky, who converted approximately $140,000 of debt into AppYea warrants with a strike price of $0.07 per share, reflecting a premium of more than 250% over the current market price of the Company’s common shares.

AppYea recently entered its commercial phase with the first deliveries of AppySleep to customers in the United States. Additionally, the Company has launched a new direct sales website, AppySleep.com, and a new e-commerce store on Amazon (NASDAQ:).

Mr. Molchadsky commented on the conversion, stating, “This conversion demonstrates my utmost confidence in the prospects and business, given the fact I am converting debt into warrants with a strike price set at a substantial premium to the current market price. The Company has made tremendous progress and I do not believe the current market price of the Company’s common stock reflects the intrinsic value of our business or robust intellectual property. In particular, after years of development, we have started delivering our first product, AppySleep. There is increasing consumer awareness about the significance of healthy sleep, and our goal is to diagnose and alleviate a variety of major sleep disorders.”

AppYea’s commitment to innovation and user-centric design marks a new era in sleep wellness. AppySleep is a compact, lightweight, and comfortable smart wristband designed for use during sleep. This wristband seamlessly incorporates multiple sensors and interfaces with the AppySleep smartphone app via Bluetooth. The app, utilizing the smartphone’s microphone, actively monitors breathing patterns during sleep. When it detects several consecutive snores, the wristband responds with a gentle vibration, prompting the user to adjust their sleeping position and naturally cease snoring. The key to AppySleep’s effectiveness lies in its user-friendly design and gradual training approach. Over continuous use spanning several weeks, users typically acclimate to sleeping in a correct and healthy position, significantly reducing, or eliminating snoring.

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About AppYea

AppYea is a Healthtech company commercializing innovative wearable technology for the…

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