My Social Income, Inc. Converts Nearly $2 million

My Social Income, Inc. Converts Nearly $2 million Worth of Debt
Major Debt Holder Agrees to Convert to Preferred Stock
(Irvine, California, August 20th, 2015)
My Social Income, Inc. ("MSOA" (OTC: MSOA) CEO Colleen Schmidt is pleased to announce
that the largest debt holder of MSOA has agreed to convert $1,945,912.00 of debt currently on
the balance sheet to Series D Convertible Preferred Stock, priced at $2.50 per share.
This long-time supporter of MSOA has been invested in the Company since 1999, and is
pleased to be able to help with this significant strategem.
"By cleaning up the balance sheet and creating equity for the company, we are delivering on our
promise to shareholders to make bold and significant improvements to our bottom line," says
Colleen Schmidt.
By eliminating $1,945,912.00 in debt and thereby creating almost $2 million in equity, the
Company passes an important milestone on it's journey toward meeting the $4 million
shareholder equity threshold, which in turn allows it to qualify for a listing on the NYSE Markets.
"This is just one of several important, strategic financial transactions that will enhance the
Company's development as a future Business Development Corporation," says Colleen Schmidt.