On October 1, 2020 Nascent Biotech, Inc. (OTCQB:NBIO) reported that It has continued to reduce its liabilities through stock conversion and payment of accounts payable and accrued liabilities (Press release, Nascent Biotech, OCT 1, 2020, View Source [SID1234567885]). The reduction was achieved through the conversion of debt to equity and the reduction of liabilities, including its last convertible note. The convertible note’s principal is now $11,250 down from $161,250, a reduction of $150,000.

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Nascent’s CEO Sean Carrick states," The reduction of debt puts Nascent in a stronger position to move forward with the clinical trials which are to begin soon. Further liability management is a primarily objective of the Company."