LOS ANGELES, April 2, 2013 /PRNewswire/ -- Webxu, Inc.
(OTCBB: WBXU), a media company that owns and operates a network of
consumer branded websites and businesses focused on Customer
Acquisition, E-Commerce and Mobile Media, today announced the
conversion of existing bridge debt and an improved Balance
Sheet.
During Q1 2013, Webxu note holders converted $550 thousand of debt into common stock. The
amount converted represents 32.4% of investment debt, 17.7% of all
debt appearing on Webxu's 12/31/12
Balance Sheet. Part of Webxu's strategy for 2013 is to reduce
liabilities on their Balance Sheet, while continuing to increase
revenue and profit margin.
"We are extremely pleased that many of our original note holders
chose to convert their debt into our common stock," said
Keith Schaefer, Webxu CEO. "This not
only improves our Balance Sheet but points to a vote of confidence
in Webxu long term by our original note holders and we intend to
continue to pursue further debt reduction going forward."
About Webxu, Inc.
Webxu, Inc. (OTCBB: WBXU) is a media company that owns and
operates a network of consumer branded websites and businesses
focused on Customer Acquisition, E-Commerce and Mobile Media.
Through its branded consumer websites, Webxu generates revenue by
providing Advertiser clients with targeted consumer traffic. Webxu
is headquartered in Los Angeles,
CA. For more information about Webxu, visit
http://www.webxu.com.
Webxu Media Contact:
Mike Roth
mike@webxu.com
Cautionary Language Regarding Forward Looking
Statements
This release and any attachments contain forward-looking
statements within the meaning of the "safe harbor" provisions of
the Federal securities laws, including Section 21E of the
Securities Exchange Act of 1934, that involve risks and
uncertainties. Words such as "will," "believe," "intend,"
"potential" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
include the quotations from management in this press release, as
well as any statements regarding the Company's anticipated
financial results and strategic and operational plans. The
Company's actual results may differ materially from those
anticipated in these forward-looking statements. Factors that may
contribute to such differences include, but are not limited to: the
Company's ability to deliver an adequate rate of growth and manage
such growth; the impact of changes in government regulation and
industry standards; the Company's ability to maintain and increase
the number of visitors to its websites; the Company's ability to
identify and manage acquisitions; the impact of the current
economic climate on the Company's business; the Company's ability
to attract and retain qualified executives and employees; the
Company's ability to compete effectively against others in the
online marketing and media industry; the impact and costs of any
failure by the Company to comply with government regulations and
industry standards; and costs associated with defending
intellectual property infringement and other claims. More
information about potential factors that could affect the Company's
business and financial results is contained in the Company's latest
annual report. These forward looking statements are made as of
today's date and, except as otherwise required by law, the Company
does not intend and undertakes no duty to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect events or circumstances after the date
hereof.
SOURCE Webxu, Inc.