E-Cite Motors Eliminates Additional 671,000 Shares Through Debt Reduction, Continuing Aggressive Efforts to Minimize Dilution and Build Shareholder Value

Core Insights - The company has eliminated approximately 671,000 shares of potential dilution by paying down debt related to a Convertible Promissory Note dated May 13 [1] - This action reinforces the company's commitment to protecting shareholders and strengthening its capital structure [1] Company Actions - The company proactively reduced its share overhang, which is a positive step for shareholder value [1] - The payment of debt is part of the company's strategy to leverage its regulatory advantages over traditional OEMs [1]