Toggle3D.ai CEO Acquires Shares to Settle Debt

Toggle3D.ai, an AI-driven company known for its ecommerce solutions, announced that CEO Evan Gappelberg has acquired 2,566,666 shares of the company's stock. The shares were issued at $0.06 per share, settling an outstanding debt of $154,000. This allocation allows the CEO to receive shares instead of cash for past salary compensation. The shares are under a hold period of four months and one day post-issuance, awaiting Canadian Securities Exchange approval.

The acquisition emphasizes the company's innovative use of AI, notably through ToggleStudios' AI photography, which transforms 2D images into hyper-realistic visuals. Though this announcement highlights internal financial strategies, Toggle3D.ai continues to make strides in enhancing AI-powered tools for the online retail sector.