Pure Immediately Cuts 21% of Toxic Debt in Securit
Post# of 4678
Posted On: 01/29/2016 9:54:36 AM
Pure Immediately Cuts 21% of Toxic Debt in Securities Buy-Back
"Now that the Company has immediately repurchased and retired 21% of its toxic debt, management estimates that through the debt repurchase portion of its overall debt reduction initiative, the Company will reduce its derivative liability by nearly $2.5 Million; eliminating the possibility of over 6 Billion shares diluting the public float [shares created from the toxic convertible debt securities held by over a dozen note-holders]. Also, the overall initiative will ultimately eliminate $3 Million of toxic debt held by the primary note-holder."
"Now that the Company has immediately repurchased and retired 21% of its toxic debt, management estimates that through the debt repurchase portion of its overall debt reduction initiative, the Company will reduce its derivative liability by nearly $2.5 Million; eliminating the possibility of over 6 Billion shares diluting the public float [shares created from the toxic convertible debt securities held by over a dozen note-holders]. Also, the overall initiative will ultimately eliminate $3 Million of toxic debt held by the primary note-holder."
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