PDX Partners Inc. Eliminates Debt From Its Balance

PDX Partners Inc. Eliminates Debt From Its Balance SheetJan 16, 2018

OTC Disclosure & News Service

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PORTLAND, Ore., Jan. 16, 2018 (GLOBE NEWSWIRE) -- PDX Partners, Inc. (OTC PINKDXP) ("the Company", a Telecom company, announces that it has eliminated debt from its balance sheet.

On November 8, 2017, the Company received a Florida State court approval of a settlement and stipulation (Case No. 2017 CA 5550) for the satisfaction Company debt in the amount of $188,919.62 through the issuance of shares which will be exempt from SEC registration in reliance upon Section 3 (a)(10) of the Securities Act based upon the Courts finding. The agreement provides the shares will be issued at 50% to the market price as defined in the agreement, and the owner may not own more than 9.9% at the time of issuance. As part of that agreement the Company initially reserved 208,000,000 of its shares with its stock transfer agent as of November 8, 2017.

Said PDX CEO Patrick Johnson: “We are happy to report that we will no longer be facing any additional dilution from this particular debt settlement and stipulation case which enables us to continue to build a strong company financially and fundamentally moving forward.” He continued.