Global Equity International Inc. Is Proud to Announce That It Has Reduced Its "Toxic Convertible Debt" Substantially Since December 31, 2014
(firmenpresse) - DUBAI, UNITED ARAB EMIRATES -- (Marketwired) -- 07/16/15 -- (OTCQB: GEQU) and its fully-owned subsidiary a specialist consultancy firm with it head office located in Dubai (X3 Jumeirah Bay Tower, Office 3305, JLT, Dubai, UAE) and service offices in the United Kingdom, is pleased to announce that it has now reduced its toxic debt by more than 90% since December 31, 2014. The Company has only two convertible note holders that are now owed, between them, a total of $19,582. Over the last few months the Company has fully repaid notes, in cash and equity, to Asher Enterprises, Adar Bay and KMB Worldwide.
"It has been a long and hard path that we have had to walk due to the toxic convertible debt that we mistakenly took onboard, but we are very close to being free of this debt and as we have stated before in prior press releases, we have not taken, nor do we intend to ever take, any new toxic loans for the benefit of the company and its shareholders. During this time we have continued to build the business and concentrate on the operational day to day activities. This hard work and effort by all members of the GEP team can now start to be capitalized without the added weight of the toxic convertible debt."
Global Equity International Inc., through its wholly owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to the unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds significant long-term equity positions in the companies that it represents.
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.
Enzo Taddei
Director and CFO of Global Equity International Inc.
Tel + 321 200 0142
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Datum: 16.07.2015 - 14:22 Uhr
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News-ID 407344
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DUBAI, UNITED ARAB EMIRATES
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