Oct 22,2013
OTC Disclosure & NewsService
ACCESSWIRE) 10/22/2013
1:00:00PM - Hi ScoreCorporation. (OTC PINK: HSCO) is pleased to announce that it has concludeda Memorandum of Understanding with an undisclosed cash Note Holder in AlaskaEnergy Corporation to purchase and assign a nominal amount of theirDebt. Hi Score Corporation will purchase part of this matured,secured debt because of its conversion privileges. Once Hi Score Corporationhas acquired the matured & secured non affiliated debt in Alaska EnergyCorporation, it will seek to convert that debt into common shares, which it cansell or book as equity on its own balance sheet.
William White, CEO of Hi ScoreCorporation, states, "This is the first of many investment activities thatHi Score Corporation will be pursuing, with other issuers. The brilliance ofthis strategy is all affected parties in the transaction come out as winners.The Note holder who has held the debt for over a year, is able to get some cashin his hands, the public company, where the debt originated, is able to removeor lower the debt on their balance sheet, and we are able to book theinvestment as a note receivable on our balance sheet, or as equity on ourbalance sheet, should we exercise the conversion privileges. "
A Company Spokesperson, furtheradded,?Debt is the single largest impediment to the success of the Micro CapMarkets. There is a real opportunity, for Hi Score Corporation, to work withother Issuers, to help them restructure their companies, through the issuanceof Convertible Preferred Stock. We can also buy or assign nominal amounts ofaged secured non affiliate debt which benefits all parties. This willcompliment Hi Score Corporation's business objectives very nicely as we seek toacquire other green technologies and get our products to market. "
