Powerdyne International, Inc. Announces That It Is Free of All Convertible Debt
WARWICK, RI -- (Marketwired) -- 07/30/15 -- Powerdyne International, Inc. (OTC PINK: PWDY) announced today that as of Wednesday, July 29, 2015 all of its convertible debt has been eliminated from its books.
Jim O'Rourke, CEO of Powerdyne said, "This was a big step for the Company. Ever since taking on the role of CEO at Powerdyne, the convertible debt has been an ongoing issue for our share price. Though it was a necessary step to raise operating capital, we are happy to say that we've now moved beyond that point. We anticipate that future revenue generated from operations will be sufficient to fund our operating needs. This marks the first time since May 2013 that Powerdyne International has not had any convertible debt on its books. I want to personally thank our shareholders who have stood by us during this difficult period."
About Powerdyne International, Inc.:
Powerdyne International, Inc. (www.Powerdyneinternational.com) provides power solutions that are designed to be installed in virtually any location worldwide. The Company's target customer will typically use its PDI Power Solution to produce its own primary or supplemental power which is useful in any situation where reliable and cost effective power is needed.
Powerdyne is founded on the ability to produce primary and supplemental power using custom-built gas generators which produces electricity cheaper than existing means. The Company expects that the difference between its costs of generating electricity versus its customer's current cost will result in a substantial savings.
For more information on Powerdyne International go to: www.powerdyneinternational.com
This release may contain "forward-looking statements" that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations about its future plans and performance, including statements concerning the impact of marketing strategies, new product introductions and innovation, deliveries of product, sales, earnings and margins and include statements regarding the expected savings from generating electricity, the future revenue to be sufficient to fund its financing needs, . These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties including the risk that the revenue generated from operations is less than anticipated and not enough to fund the Company's financing needs. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Form 10-K and subsequent filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Contact:
Powerdyne International, Inc.
contact@powerdyne.org
Source: Powerdyne International, Inc.
