$HSCO HUGE LETTER FROM CEO William White's Letter
Post# of 63688
Posted On: 10/24/2013 9:04:06 AM
[b]$HSCO HUGE LETTER FROM CEO William White's Letter to the Stockholders about the State of Hi Score Corporation[/b]
Oct 24, 2013
OTC Disclosure & News Service
ACCESSWIRE) 10/24/2013 8:30:00AM
Dear Fellow Stockholders,
This letter to the stockholders is an assessment of our shortcomings, solutions and goals. It is a frank discussion of Hi Score Corporation's problematic past, present day solutions, and future objectives.Since the release on October 14th, 2013, Hi Score Corporation has put out considerable information about its new Agenda. My company, Next Dimension Marketing Inc., was acquired as a wholly owned subsidiary and there was a change in management. Much has been announced since, on a daily basis, to keep shareholders informed on the developments of the
Company and its new direction. The future success of this company cannot begin
without healing the wounds of the past with the decisions of the present. To
discuss the past for a moment, it must be noted that we inherited a public
company that was not actively involved with its shareholder base, to the extent
that stockholders were informed about the challenges on Hi Score Corporation's
balance sheet. The public company came with existing debt holders, whose notes
were consistently compounding in a way that created real derivative liability
issues on the financial statements for years to come. Issues that most CEO's
without an economics background simply would not understand or would sweep
under the rug.
When I became the CEO, our corporate situation reminded me of the US Government
shutdown and the debt ceiling debate, which was front and center in the news at
the time. It got me thinking.......The middle class in the US, just like common
stockholders, have been squeezed by crippling consumer and government debt.
It?s been a confidence killer, and while there are contractual responsibilities
to increase the debt ceiling, who would continue to raise it while not
confronting simultaneously the compounding issues responsible for its continued
rise. It?s the RAISE in the debt ceiling, without dealing with the issues
causing the raise that moved me to take action in our company, because the
parallels are similar. Hi Score Corporation, like most micro cap companies is a
microcosm of our Government and its inability to confront its most crippling
issue, DEBT. The same debt that forced Hi Score Corporation to increase its
CEILING, when it increased its Issued & Outstanding to meet its debt
obligations.
Repetitive, systemic issuances of the same compounding DEBT crippled the investor
confidence of our stockholders and created a sense of hopelessness, all at the
expense of only meeting our contractual responsibilities. This strategy was and
is not a viable business model. Of course we owe it to our debt holders to meet
our obligations, but the company cannot grow if those obligations squeeze the
vast majority of stockholders out of their equity, and thus jeopardize all of
the interests of the public company. We realize that there were and still remain a lot of stockholders who had lost money because of the consistent amount of dilution, which was a consequence of issuance resolutions stemming from compounding debt conversions in the Company. Our contractual responsibilities to service our debt obligations are extremely important and must be met, but enhancing shareholder value must take precedence. So, to speak of the present, we made structural changes to our corporate formation by creating specific convertible preferred securities, hybrid equity instruments designed to give debt holders the same assurances that the company will meet its contractual obligations, while ensuring that the debt does not compound by exchanging it for equity. This was a significant change because it allowed us to negotiate interest only conversions of debt into equity, as the principal part of the debt is exchanged for the preferred instruments.
We will be filing with FINRA for the restricted convertible preferred stock dividend on behalf of our common shareholders and pending FINRA approval, the benefit to our stockholders will be significant, particularly those that have suffered the dilution in the open market. The convertibility features of this instrument (1 PREFERRED share for every 100,000 COMMON) are very attractive to any investors that find themselves underwater and can be converted into common once the security has matured. Additionally, lowering the Issued Capital in Hi Score Corporation, and canceling previous consulting agreements, enhances shareholder confidence, because it signals to the market, that Hi Score Corporation is serious about its Equity to Market Capitalization ratio. The notion that Hi Score Corporation must live with the systemic conversions of debt, without assurances that the principal compounding amounts owed on these debts are not exchanged for equity, is no longer acceptable. Even our debt holders recognize this fact and have cooperated with us to ensure that we meet these challenges. They understand that our solutions protect the inherent value, which is the underlying basis of their security, while living up to our contractual duties.
From a business perspective, the future of Hi Score Corporation is tied to its ability to build its Net Stockholders Equity. The opportunity to buy assets and or profitable businesses as wholly owned subsidiaries using specific convertible preferred securities as currency is the pragmatic reality of the present and the future for our company. Getting products out to market is a function of our ability to meet those financial needs. Small companies need money to operate and our own investment activities in exchange for matured, structured debt instruments, with conversion privileges, coupled with our consulting expertise to help other issuers meet their own structural challenges, will help to facilitate the value we intend to create in retained earnings on our financial statements. Auditing our financial statements is a necessary step in enhancing shareholder confidence because of the inherent transparency associated with third party verification.
Moving forward, our immediate objectives for the future are to become a fully reporting issuer, secure the gains we are making on our balance sheet, and add value where the opportunity presents itself. The objective of building $4,000,000 in Net Stockholders Equity is well within the reach of Hi Score Corporation. And becoming an Issuer listed on a Nationally Recognized Exchange is not far from the realm of probability. Our strategy is to focus on our Agenda, not deviating from the plan, this is what will ensure our future. We appreciate any correspondence from our stockholders and look forward to sharing more developments on the company as they become news worthy."
About Hi Score Corporation:
Hi Score Corporation (HSCO.PK)
serves as the parent company for Green LED Technology Inc. Hi Score is also the
owner of the EcoGreenBulb Line of Compact Fluorescent Lamps and the REPCO Line
of Traditional Lighting. For these three companies the primary aim at Hi Score is to show their clients how to save energy and money by utilizing safe, efficient, lighting. To find out more information about these Companies please
visit our website at www.hiscorecorporation.com.
To further pursue and support the Company?s desire for diversification within
the green energy marketplace, in October of 2013 the Company acquired Next
Dimension Marketing Inc. (NDMI), a U.S. assembler & exclusive distributor
of hydrogen converters; specifically including the Performance Enhancement and Emissions Control Hydrogen
(PEECH) System. To find out more about NDMI and the PEECH System please visit their
website at www.ndmarketinginc.com.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E and
or 27E of the Securities Exchange Act of 1934 that are based upon assumptions
that in the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed from time
to time in reports filed by the company with the Securities and Exchange
Commission. Statements contained in this release that are not historical facts
may be deemed to be forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Although the company
believes that the expectations reflected in its forward-looking statements are
reasonable, it can give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Factors that could cause
results to differ include, but are not limited to, the company's ability to
raise necessary financing, retention of key personnel, timely delivery of
inventory from the company's contract manufacturers, timely product
development, product acceptance, and the impact of competitive services and
products, in addition to general economic risks and uncertainties.
Company Contact Information:
Mr.William White, Chief Executive Officer
Harvardtrust@execs.com or info@greenledsolutions.com or bill@ndmarketinginc.com
www.hiscorecorporation.com
The above news release has been provided by the
above company via the OTC Disclosure and News Service. Issuers of news releases
and not OTC Markets Group Inc. are solely responsible for the accuracy of such
news releases.
Oct 24, 2013
OTC Disclosure & News Service
ACCESSWIRE) 10/24/2013 8:30:00AM
Dear Fellow Stockholders,
This letter to the stockholders is an assessment of our shortcomings, solutions and goals. It is a frank discussion of Hi Score Corporation's problematic past, present day solutions, and future objectives.Since the release on October 14th, 2013, Hi Score Corporation has put out considerable information about its new Agenda. My company, Next Dimension Marketing Inc., was acquired as a wholly owned subsidiary and there was a change in management. Much has been announced since, on a daily basis, to keep shareholders informed on the developments of the
Company and its new direction. The future success of this company cannot begin
without healing the wounds of the past with the decisions of the present. To
discuss the past for a moment, it must be noted that we inherited a public
company that was not actively involved with its shareholder base, to the extent
that stockholders were informed about the challenges on Hi Score Corporation's
balance sheet. The public company came with existing debt holders, whose notes
were consistently compounding in a way that created real derivative liability
issues on the financial statements for years to come. Issues that most CEO's
without an economics background simply would not understand or would sweep
under the rug.
When I became the CEO, our corporate situation reminded me of the US Government
shutdown and the debt ceiling debate, which was front and center in the news at
the time. It got me thinking.......The middle class in the US, just like common
stockholders, have been squeezed by crippling consumer and government debt.
It?s been a confidence killer, and while there are contractual responsibilities
to increase the debt ceiling, who would continue to raise it while not
confronting simultaneously the compounding issues responsible for its continued
rise. It?s the RAISE in the debt ceiling, without dealing with the issues
causing the raise that moved me to take action in our company, because the
parallels are similar. Hi Score Corporation, like most micro cap companies is a
microcosm of our Government and its inability to confront its most crippling
issue, DEBT. The same debt that forced Hi Score Corporation to increase its
CEILING, when it increased its Issued & Outstanding to meet its debt
obligations.
Repetitive, systemic issuances of the same compounding DEBT crippled the investor
confidence of our stockholders and created a sense of hopelessness, all at the
expense of only meeting our contractual responsibilities. This strategy was and
is not a viable business model. Of course we owe it to our debt holders to meet
our obligations, but the company cannot grow if those obligations squeeze the
vast majority of stockholders out of their equity, and thus jeopardize all of
the interests of the public company. We realize that there were and still remain a lot of stockholders who had lost money because of the consistent amount of dilution, which was a consequence of issuance resolutions stemming from compounding debt conversions in the Company. Our contractual responsibilities to service our debt obligations are extremely important and must be met, but enhancing shareholder value must take precedence. So, to speak of the present, we made structural changes to our corporate formation by creating specific convertible preferred securities, hybrid equity instruments designed to give debt holders the same assurances that the company will meet its contractual obligations, while ensuring that the debt does not compound by exchanging it for equity. This was a significant change because it allowed us to negotiate interest only conversions of debt into equity, as the principal part of the debt is exchanged for the preferred instruments.
We will be filing with FINRA for the restricted convertible preferred stock dividend on behalf of our common shareholders and pending FINRA approval, the benefit to our stockholders will be significant, particularly those that have suffered the dilution in the open market. The convertibility features of this instrument (1 PREFERRED share for every 100,000 COMMON) are very attractive to any investors that find themselves underwater and can be converted into common once the security has matured. Additionally, lowering the Issued Capital in Hi Score Corporation, and canceling previous consulting agreements, enhances shareholder confidence, because it signals to the market, that Hi Score Corporation is serious about its Equity to Market Capitalization ratio. The notion that Hi Score Corporation must live with the systemic conversions of debt, without assurances that the principal compounding amounts owed on these debts are not exchanged for equity, is no longer acceptable. Even our debt holders recognize this fact and have cooperated with us to ensure that we meet these challenges. They understand that our solutions protect the inherent value, which is the underlying basis of their security, while living up to our contractual duties.
From a business perspective, the future of Hi Score Corporation is tied to its ability to build its Net Stockholders Equity. The opportunity to buy assets and or profitable businesses as wholly owned subsidiaries using specific convertible preferred securities as currency is the pragmatic reality of the present and the future for our company. Getting products out to market is a function of our ability to meet those financial needs. Small companies need money to operate and our own investment activities in exchange for matured, structured debt instruments, with conversion privileges, coupled with our consulting expertise to help other issuers meet their own structural challenges, will help to facilitate the value we intend to create in retained earnings on our financial statements. Auditing our financial statements is a necessary step in enhancing shareholder confidence because of the inherent transparency associated with third party verification.
Moving forward, our immediate objectives for the future are to become a fully reporting issuer, secure the gains we are making on our balance sheet, and add value where the opportunity presents itself. The objective of building $4,000,000 in Net Stockholders Equity is well within the reach of Hi Score Corporation. And becoming an Issuer listed on a Nationally Recognized Exchange is not far from the realm of probability. Our strategy is to focus on our Agenda, not deviating from the plan, this is what will ensure our future. We appreciate any correspondence from our stockholders and look forward to sharing more developments on the company as they become news worthy."
About Hi Score Corporation:
Hi Score Corporation (HSCO.PK)
serves as the parent company for Green LED Technology Inc. Hi Score is also the
owner of the EcoGreenBulb Line of Compact Fluorescent Lamps and the REPCO Line
of Traditional Lighting. For these three companies the primary aim at Hi Score is to show their clients how to save energy and money by utilizing safe, efficient, lighting. To find out more information about these Companies please
visit our website at www.hiscorecorporation.com.
To further pursue and support the Company?s desire for diversification within
the green energy marketplace, in October of 2013 the Company acquired Next
Dimension Marketing Inc. (NDMI), a U.S. assembler & exclusive distributor
of hydrogen converters; specifically including the Performance Enhancement and Emissions Control Hydrogen
(PEECH) System. To find out more about NDMI and the PEECH System please visit their
website at www.ndmarketinginc.com.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E and
or 27E of the Securities Exchange Act of 1934 that are based upon assumptions
that in the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed from time
to time in reports filed by the company with the Securities and Exchange
Commission. Statements contained in this release that are not historical facts
may be deemed to be forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Although the company
believes that the expectations reflected in its forward-looking statements are
reasonable, it can give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Factors that could cause
results to differ include, but are not limited to, the company's ability to
raise necessary financing, retention of key personnel, timely delivery of
inventory from the company's contract manufacturers, timely product
development, product acceptance, and the impact of competitive services and
products, in addition to general economic risks and uncertainties.
Company Contact Information:
Mr.William White, Chief Executive Officer
Harvardtrust@execs.com or info@greenledsolutions.com or bill@ndmarketinginc.com
www.hiscorecorporation.com
The above news release has been provided by the
above company via the OTC Disclosure and News Service. Issuers of news releases
and not OTC Markets Group Inc. are solely responsible for the accuracy of such
news releases.
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