LOS ANGELES, July 31, 2014 /PRNewswire/ -- TechnoConcepts,
Inc. (OTCMarkets/Pinksheets: TCPS) has recently been successful in
negotiating with its last current debt holder and this debtholder
has agreed to convert of all their debt to preferred stock of the
Company.
The Company has received one (1) executed Debt Exchange
Agreement from one debt holder and the debt holder indicated that
they are willing to completely eliminate their debt and convert it
to preferred stock.
This Debt Exchange Agreement eliminates over $1,000,000 in debt of the balance sheet of the
Company. This will be reflected in the next financial statements
filed with OTCMarkets by the Company.
The Company has eliminated over $2,200,000 in debt since June 2013. This is the fourth Debt Exchange
Agreement the Company has successfully negotiated with debt
holders.
About TechnoConcepts, Inc.
TechnoConcepts, Inc. (OTCMarkets/Pinksheets: TCPS) is a wireless
technology company currently holding patents and other intellectual
property. The Company is a Colorado company in good standing.
Disclaimer
Silver Sun Products provides a comprehensive set of solutions to
the regulated cannabis industry. Silver Sun Products does not
grow, harvest, distribute or sell cannabis or any substances that
violate United States law or the
Controlled Substances Act, nor does it intend to do so in the
future.
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933, and are subject to Rule 3B-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of
fact, included in this press release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and other results and
further events could differ materially from those anticipated in
such statements. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying
the forward-looking statements.
SOURCE TechnoConcepts, Inc.