Global Equity International Inc. Is Practically Free of All Toxic Convertible Debt
(firmenpresse) - DUBAI, UNITED ARAB EMIRATES -- (Marketwired) -- 07/21/15 -- (OTCQB: GEQU) and its fully-owned subsidiary a specialist consultancy firm with offices located in Dubai and London is pleased to announce that it now only has one convertible noteholder that is owed approximately $14,600. The Company expects this noteholder to convert the last of the note into equity sometime this week or early next week. Once this last conversion into equity is complete, the Company will finally be 100% free of all toxic convertible debt and proceed to file a Form 8-K to that effect.
The Company also will file an amended Preliminary Schedule 14C stating that it intends to raise the authorized common shares to one billion common shares instead of two billion common shares. The reason for the amendment will be to ensure that the shareholders of the Company fully understand the following:
1) The Company realized that the idea to raise the authorized common shares to two billion was not entirely necessary.
2) The Company is looking at various possibilities of growth by acquisition and/or certain strategic partnerships.
3) Company's management would like to convert the rest of their notes into restricted common shares in order to help clean up the unnecessary liabilities on the Company's balance sheet; hence, allowing the Company to use all surplus cash for operations and growth.
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 a 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 (Due to international time differences please call before 2pm EDT).
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Datum: 21.07.2015 - 22:48 Uhr
Sprache: Deutsch
News-ID 408263
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DUBAI, UNITED ARAB EMIRATES
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Commercial & Investment Banking
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