Wednesday, March 04, 2015 7:44:06 AM
KNSC To name new USA based management board members and a USA
based operating subsidiary
TORONTO, ON / ACCESSWIRE / February 25, 2105 / Kenergy Scientific, Inc. (KNSC) (http://www.knsc.info/) brings attention to its previous news release dated January 12, 2015. The following is a general corporate update for the company followers:
1. KNSC controlling block of shares sold off the market (2,5 Billion common shares and all preferred shares) as per the listing on Merger Network;
2. Existing management has tendered their resignation. New USA based management is being appointed;
3. The Company will be relocated to Florida. Existing operating subsidiary Sparx Business Media will be spun off including the debts of Sparx;
4. This split off will pave the way for KNSC to entertain a USA based operating subsidiary and a new merger;
5. Over the past 2 years the interim KNSC management has successfully been untangling one at a time, various intertwined and ballooned toxic financing instruments the company was entangled in, ranging from hostile landlord’s to hard money lenders and others;
6. Once the sale is completed (closed) KNSC will have a very small debt (approx.) less than $100,000;
7. The closing is expected within the next several days;
8. Filings will follow shortly.
More details will follow shortly and on a timely basis.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kenergy Scientific, Inc.
For more information contact us at: www.sparxbusinessmedia.com or www.knsc.info
North America +16476941737
SOURCE: Kenergy Scientific, Inc.
Source: Accesswire (February 25, 2015 - 7:30 AM EST)
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