Defense Technologies International Announces Reduction in Debt
http://m.newsfilecorp.com/release/25846/Defen...NkPhEn3aEc
Defense Technologies International Announces Reduction in Debt
Las Vegas, Nevada--(Newsfile Corp. - March 27, 2017) - Defense Technologies International Corp. (OTCQB: DTII) (The Company), a developer of security technologies announced today it has reduced its corporate debt by almost a half million dollars.
As reflected in the company's latest quarterly SEC Filing, Defense Technologies International Corp. has reduced its liabilities by $436,773 and increased its capital by $920,420 during the months of November 2016 to January 31, 2017.
"Defense Technologies remains committed to reducing liabilities and starting production of its Non-X-ray Scanner in the very near future. We appreciate and thank all our shareholders for their support," stated Defense Technologies International Corp. CEO Merrill Moses.
As part of the financial improvements for the Company, three creditors agreed to retire their outstanding claims against Preferred Shares at a conversion rate of One Preferred to Ten Common Restricted Shares.
In addition, the Company retired a Convertible Note with a cash payment of $49,377.22.
"The Company's current goal is to raise capital in order to start the production and marketing of its 'Passive Security Scan Portal' for use at schools, universities, and commercial buildings," added Mr. Moses.
The Company's Business - The Offender Alert Passive Scan™
The Company's 'Offender Alert Passive Scan™' is a unique "next generation" walk-through detector scanning unit. This patented and trademarked passive scanning system allows for detecting and identifying concealed threats such as guns, knives, etc. Unlike other scanners the public is more familiar with, Passive Security Scan does NOT use X-rays to detect threats.
Serious health concerns have been raised over the repeated exposure to X-rays from other scanning machines currently in use. The Offender Alert Passive Scan™ scanner technology is based on the 'Earth Magnetic Fields' has no emission whatsoever and is therefore extremely safe and harmless to the person passing through our portal.
Our Website: http://www.defensetechnologiesintl.com/
Video of the Passive Security Scan Portal: https://youtu.be/nypDRF2xhlA
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Defense Technologies International
Merrill W. Moses,
President & CEO
Phone: 800 520-9485
Email: dtii@defensetechnologiesintl.com
http://m.newsfilecorp.com/release/25846/Defen...NkPhEn3aEc
Defense Technologies International Announces Reduction in Debt
Las Vegas, Nevada--(Newsfile Corp. - March 27, 2017) - Defense Technologies International Corp. (OTCQB: DTII) (The Company), a developer of security technologies announced today it has reduced its corporate debt by almost a half million dollars.
As reflected in the company's latest quarterly SEC Filing, Defense Technologies International Corp. has reduced its liabilities by $436,773 and increased its capital by $920,420 during the months of November 2016 to January 31, 2017.
"Defense Technologies remains committed to reducing liabilities and starting production of its Non-X-ray Scanner in the very near future. We appreciate and thank all our shareholders for their support," stated Defense Technologies International Corp. CEO Merrill Moses.
As part of the financial improvements for the Company, three creditors agreed to retire their outstanding claims against Preferred Shares at a conversion rate of One Preferred to Ten Common Restricted Shares.
In addition, the Company retired a Convertible Note with a cash payment of $49,377.22.
"The Company's current goal is to raise capital in order to start the production and marketing of its 'Passive Security Scan Portal' for use at schools, universities, and commercial buildings," added Mr. Moses.
The Company's Business - The Offender Alert Passive Scan™
The Company's 'Offender Alert Passive Scan™' is a unique "next generation" walk-through detector scanning unit. This patented and trademarked passive scanning system allows for detecting and identifying concealed threats such as guns, knives, etc. Unlike other scanners the public is more familiar with, Passive Security Scan does NOT use X-rays to detect threats.
Serious health concerns have been raised over the repeated exposure to X-rays from other scanning machines currently in use. The Offender Alert Passive Scan™ scanner technology is based on the 'Earth Magnetic Fields' has no emission whatsoever and is therefore extremely safe and harmless to the person passing through our portal.
Our Website: http://www.defensetechnologiesintl.com/
Video of the Passive Security Scan Portal: https://youtu.be/nypDRF2xhlA
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Defense Technologies International
Merrill W. Moses,
President & CEO
Phone: 800 520-9485
Email: dtii@defensetechnologiesintl.com
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