Greenfield Farms Food Reports on Debt Restructuring Progress
April 14 2014 - 10:00AM
Marketwired
Greenfield Farms Food Reports on Debt Restructuring Progress
WEST PALM BEACH, FL--(Marketwired - Apr 14, 2014) - Greenfield
Farms Food, Inc. ("Greenfield" or the "Company") (OTCQB:
GRAS) announced today it has made significant progress in
the reduction of its convertible debt. The September 30, 2013
Quarterly Report on Form 10-Q reported that the largest convertible
debt holder, Asher Enterprises, was owed $167,950 in face value of
convertible notes. On April 4, 2014, as a result of purchases
by unaffiliated third parties, the remaining balance of $38,400
owed Asher had been transferred and Asher no longer holds any
convertible notes issued by the Company. The balance of all
the Asher notes other than the remaining amount acquired by third
parties has been converted to common stock of the
Company.
Greenfield Farms Food, Chief Financial Officer, Henry Fong,
said, "We are pleased with the progress we are making with the debt
restructuring and will be seeking additional ways in which we may
enhance the financial structure of the Company moving forward."
About Carmela's
Pizzeria Carmela's presently has four Dayton, Ohio area
locations offering authentic New York style pizza. Carmela's
offers a full service menu for Dine In, Carry out and Delivery as
well as pizza buffets in select stores. Carmela's has been
noted in Dayton Daily News as one of "The Best Pizzerias" in
Dayton. Visit the Carmela's website at:
www.carmelasohio.com
About Greenfield Farms
Food, Inc. Greenfield is a publicly-traded nominally
capitalized company operating through its wholly-owned subsidiary
Carmela's Pizzeria CO, Inc. through the Carmela's Pizzeria Dayton
restaurant locations that include pizza buffets, alcohol service,
delivery and carry-out depending on the location; and has
previously been a limited producer and marketer of "grassfed" beef
that supplied a North Carolina based grocer.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company's progress, business
opportunities and growth prospects, they are based on management's
current beliefs and assumptions as to future events. However, since
the company's operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
Contact Information: Greenfield Farms Food,
Inc. Henry Fong CFO (561) 373-8104
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