Illumisoft Lighting Corp. announced on August 19 three corporate developments at once: a change of chief executive, the commencement of trading in the United States on the OTCQB Venture Market, and a proposed shares-for-debt settlement. The company describes itself as a photonic disinfection and lighting technology business developing ultraviolet germicidal solutions for healthcare, commercial, transportation, hospitality and built-environment markets.
Ehsan Agahi was appointed chief executive officer effective August 19, 2026, and will continue to serve as chairman of the board. Brett Nicholds, previously chief executive, transitions to senior strategic advisor and remains a director. The company thus keeps both executives, with Agahi consolidating the chair and chief-executive roles and Nicholds staying on the board in an advisory capacity.
Illumisoft's common shares began trading on the OTCQB Venture Market in the United States under the symbol FUVCF, while continuing to trade on the TSX Venture Exchange under UVC. The OTCQB is a U.S. over-the-counter tier for early-stage and developing companies; a quotation there gives U.S. investors a domestic line in which to trade the stock without the company undertaking a full U.S. exchange listing.
The company said it has applied for full-service eligibility with the Depository Trust Company but that there can be no assurance eligibility will be obtained. DTC eligibility allows shares to be held and transferred electronically through the U.S. clearing system, which typically makes an over-the-counter line easier and cheaper for American brokers to settle. Until it is granted, trading in FUVCF can be more cumbersome.
Separately, Illumisoft proposed to settle C$413,764.12 of indebtedness by issuing 646,506 common shares at a deemed price of C$0.64 per share. The debt comprises C$203,764.12 owing under two promissory notes and C$210,000 owing for consulting services, and the company said the creditors are arm's-length parties. The settlement remains subject to the acceptance of the TSX Venture Exchange.
Settling debt with shares conserves cash by converting obligations into equity, at the cost of diluting existing holders — here by the 646,506 shares to be issued at C$0.64. The release does not state the company's total shares outstanding, so the proportional dilution cannot be calculated from it, nor does it break down the consulting services or name the noteholders beyond describing them as arm's length.
Bundling a leadership change, a U.S. over-the-counter quotation and a stock settlement of payables into a single update is characteristic of a newly listed venture issuer building out its capital-markets presence while managing a thin treasury. Illumisoft already trades on the TSXV; the OTCQB step extends its reach to U.S. retail, and the debt-for-shares deal keeps cash for the technology programme.