NSAV Announces the Payoff of Asher Enterprise Notes From 2013 and 2014, and Assures Shareholders That NSAV Will Not Be Restructuring the Company With a Reverse Split for the Foreseeable Future
Marketwired Net Savings Link, Inc.
19 hours ago
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PORT JEFFERSON, NY--(Marketwired - Feb 23, 2015) - Net Savings Link, Inc. (OTC PINK: NSAV) today has announced through its CEO, Steven Baritz, the payoff of over $230,000 in convertible notes that were due to Asher Enterprises, Inc. Mr. Baritz said, "I wanted to extend my deepest appreciation to our shareholders in the continued confidence that they have maintained since I became the CEO of NSAV in June, 2014." Mr. Baritz continued, "Since the commencement of our new management team in June 2014, we have paid off nearly $230,000 of the convertible notes that we inherited from the previous directors, including notes that defaulted on May 31, 2014, which predated our current management team. Six notes from 2013, including a $39,000 default fee, were included in this payoff amount, and 2 notes from early 2014 (which were prior to the current management team) were also nearly paid off, leaving an approximate balance as of this writing of only $2,250."
"I wanted to address the significant concern that has been raised among many of our shareholders with respect to a restructuring of the company via a reverse split option," said Baritz. "NASV does not see a reverse split as a viable option for us for the foreseeable future in the upcoming year," he said. Mr. Baritz continued, "We recognize the challenges that we have, and I feel that our best strategy would incorporate a policy of returning equity to the company by using various merger and acquisition opportunities that we are currently entertaining to create revenue and profits for NSAV, in lieu of a restructuring model via a reverse split of the current share structure. Although NSAV would always reserve the right to include a reverse split as an available option, its use would only be used if all other options and resources were exhausted," Baritz said.
Mr. Baritz also addressed the progress of the pending merger with Bella Vida Brands, Inc. "NSAV is currently evaluating the detailed financial statements for the past 3 years that were presented to NSAV by Bella Vida Brands, Inc., and upon the conclusion of this evaluation, NSAV will then determine the terms and conditions of the merger, and will always ensure that the assets of NSAV and Global Distribution, Inc. are protected. I have asked our shareholder and asset relations manager, David Pecoraro, to identify other companies and market sectors that NSAV can target for additional revenue potential for this upcoming calendar year, so that we can have a variety of diversified business interests that will insulate us from downturns in a single market sector," said Baritz.
"Look for additional news as we release our 10K in March 2015. We have sent the 10K documents to our accounting and auditing firms, and we are waiting for the conclusion of the audit for release," said Baritz.
About Net Savings Link, Inc.
Net Savings Link, Inc. owns and operates a wholly owned subsidiary, Global Distribution Corporation, a distribution company that markets and distributes products in varying industries including the supplement, wellness and natural remedies markets. People interested in learning more about Global Distribution should check back with the company at its website, www.Globaldistributioncorp.net.
DISCLAIMER: This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
Contact:
David Pecoraro
Shareholder Relations Director
Email: DavidPecoraro@rocketmail.com
Tel : 814-418-6648
Marketwired Net Savings Link, Inc.
19 hours ago
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PORT JEFFERSON, NY--(Marketwired - Feb 23, 2015) - Net Savings Link, Inc. (OTC PINK: NSAV) today has announced through its CEO, Steven Baritz, the payoff of over $230,000 in convertible notes that were due to Asher Enterprises, Inc. Mr. Baritz said, "I wanted to extend my deepest appreciation to our shareholders in the continued confidence that they have maintained since I became the CEO of NSAV in June, 2014." Mr. Baritz continued, "Since the commencement of our new management team in June 2014, we have paid off nearly $230,000 of the convertible notes that we inherited from the previous directors, including notes that defaulted on May 31, 2014, which predated our current management team. Six notes from 2013, including a $39,000 default fee, were included in this payoff amount, and 2 notes from early 2014 (which were prior to the current management team) were also nearly paid off, leaving an approximate balance as of this writing of only $2,250."
"I wanted to address the significant concern that has been raised among many of our shareholders with respect to a restructuring of the company via a reverse split option," said Baritz. "NASV does not see a reverse split as a viable option for us for the foreseeable future in the upcoming year," he said. Mr. Baritz continued, "We recognize the challenges that we have, and I feel that our best strategy would incorporate a policy of returning equity to the company by using various merger and acquisition opportunities that we are currently entertaining to create revenue and profits for NSAV, in lieu of a restructuring model via a reverse split of the current share structure. Although NSAV would always reserve the right to include a reverse split as an available option, its use would only be used if all other options and resources were exhausted," Baritz said.
Mr. Baritz also addressed the progress of the pending merger with Bella Vida Brands, Inc. "NSAV is currently evaluating the detailed financial statements for the past 3 years that were presented to NSAV by Bella Vida Brands, Inc., and upon the conclusion of this evaluation, NSAV will then determine the terms and conditions of the merger, and will always ensure that the assets of NSAV and Global Distribution, Inc. are protected. I have asked our shareholder and asset relations manager, David Pecoraro, to identify other companies and market sectors that NSAV can target for additional revenue potential for this upcoming calendar year, so that we can have a variety of diversified business interests that will insulate us from downturns in a single market sector," said Baritz.
"Look for additional news as we release our 10K in March 2015. We have sent the 10K documents to our accounting and auditing firms, and we are waiting for the conclusion of the audit for release," said Baritz.
About Net Savings Link, Inc.
Net Savings Link, Inc. owns and operates a wholly owned subsidiary, Global Distribution Corporation, a distribution company that markets and distributes products in varying industries including the supplement, wellness and natural remedies markets. People interested in learning more about Global Distribution should check back with the company at its website, www.Globaldistributioncorp.net.
DISCLAIMER: This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
Contact:
David Pecoraro
Shareholder Relations Director
Email: DavidPecoraro@rocketmail.com
Tel : 814-418-6648
