Monday, February 15, 2016

Greenshift Rebirth? or Greenshift Makeover?

GreenShift Corporation (OTCQB: GERS) ("GreenShift" or the "Company") today announced its completion of a series of transactions resulting in the reduction of GreenShift's total liabilities to an estimated $14 million as of December 31, 2015.

The Company expects to reduce an additional $3 million in debt prior to March 31, 2016, in exchange for about $400,000 in cash, which has been deposited in escrow pending acceptance of settlement terms by the various debt holders. If those additional settlements are completed, GreenShift's remaining liabilities will be primarily comprised of about $8.5 million in convertible debt.

"We intend to eliminate the balance of the Company's overhang on shareholder-friendly terms and press towards a simplified capital structure as quickly as possible," said Kevin Kreisler, GreenShift's Chief Executive Officer. "Our plan to do so involves the restructuring and elimination of the majority of our remaining convertible debt, followed by the conversion of our preferred stock into common stock. We believe that these steps will be important to our ability to raise growth capital, which we hope to achieve this year on favorable terms and at valuations in excess of those reflected by the current price of our stock."

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