ISW Holdings Announces Elimination of More Than $2.4M (92%) of Outstanding Convertible Debt
April 07 2021 - 09:50AM
InvestorsHub NewsWire
LAS VEGAS, NV -- April 7, 2021 -- InvestorsHub NewsWire
-- ISW
Holdings, Inc. (OTC:
ISWH) (“ISW Holdings” or the “Company”), a global brand
management holdings company with commercial operations in
telehealth and cryptocurrency mining, is thrilled to announce that
the Company has signed an agreement (the “Agreement”) with GPL
Ventures (“GPL”) to eliminate over $2.4 million in convertible
promissory notes.
The Agreement covers all convertible debt held by GPL and
represents more than 92% of the Company’s outstanding convertible
debt obligations.
“This is a huge step,” commented Alonzo Pierce, president and
chairman of ISW Holdings. “We are making good on our anti-dilution
pledge announced last year and taking strong action to reduce or
completely eliminate toxic debt and dilution risk from the equation
for our shareholders. This enormous step prevents millions of
shares from coming onto the market. We were able to take this step
as a direct result of strong operational performance and a
significantly improved outlook ahead.”
The Company notes that all of the outstanding capital obligation
to GPL was subject to conversion at a significant discount to the
stock’s current trading levels, potentially followed by immediate
liquidation by GPL. However, as a result of the Company’s move to
eliminate the obligation, no related conversion or liquidation will
take place.
The Company continues to move forward with the commitments made
in its anti-dilution initiative, as announced in December 2020.
Since that announcement, the Company has reduced outstanding shares
by nearly 25%, reduced authorized shares by 88% down to 60 million,
and eliminated over $3.4 million (or 94%) of outstanding
convertible debt.
About ISW Holdings
ISW Holdings, Inc. (ISWH),
based in Nevada, is a diversified portfolio company comprised of
essential business lines that serve consumer product demands. Our
expertise lies in strategic brand development, early growth
facilitation, as well as brand identity through our proprietary
procurement process. Together, with our partners, we seek to
provide a structure that meets large scalability demands, as well
as anticipated marketplace needs. We are able to meet these needs
through a variety of strategic innovative processes. ISWH is
creating and managing brands across a spectrum of disruptive
industries. It maneuvers its proprietary companies through critical
stages of market development, which includes conceptualization,
go-to-market strategies, engineering, product integration, and
distribution efficiency. The company has also partnered with a
well-known software development and consulting company, Bengala
Technologies LLC, which is developing significant enhancements in
the supply chain management space; and the partnership has a
vitally needed patent now pending.
For more information, visit www.iswholdings.com.
Forward-Looking Statements This press
release may contain forward-looking statements that involve risks
and uncertainties. These statements relate to future events or our
future financial performance. In some cases, you can identify
forward-looking statements by terminology including "could," "may,"
"will," "should," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential" and the negative of these terms
or other comparable terminology. While these forward-looking
statements, and any assumptions upon which they are based, are made
in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggested in this report.
Except as required by applicable law, we do not intend to update
any of the forward-looking statements so as to conform these
statements to actual results. Investors should refer to the risks
disclosed in the Company's reports filed from time to time with OTC
Markets (www.otcmarkets.com).
Company Contact: info@ISWHoldings.com
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