RJDG Huge news out!!!
RJD Green Inc. Announces Amended Agreement on Convertible Debenture
TULSA, OK / ACCESSWIRE / December 7, 2016 / RJD Green (OTCPK: RJDG) announced an amended debt agreement with Equitas Group LLC.
As a first step in restructuring and retirement of debt in 2017, on November 8, RJD Green Inc. executed an extension of the convertible debenture with Equitas Group LLC and amendment of terms.
Both parties mutually agreed they desire to retire this debt through a more conventional lender as soon as possible. In the interim, Equitas and RJD Green have executed an extension of the note thru August 31, 2017 with amended terms more favorable to RJDG in both interest rate and conversion terms, which include; no trading of shares under $0.01, 15% conversion discount of 28 day mean trading value, maximum sale of 20% of daily trading, and 8% annual interest. Although no stock has ever been sold by Equitas to date, they hold 4.25% of total shares issued.
The dramatic increase in revenues and net operating profit reported for 2016, along with the anticipated IoSoft Inc. accelerated revenues beginning in second quarter of 2017, has prompted the RJD Officers and Directors in taking these first steps in the restructuring and retirement of debt in 2017. RJD Green is currently in discussion with institutional lenders and investment firms in regards to take out and the restructuring of certain debt instruments currently in place.
