AmbiCom Holdings, Inc. (fka ABHI)

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ABHI 0.0002. News Out!


AmbiCom Holdings Inc ( OTCQB: AMBI ) Announces New Management, Line of Credit and the Filing of Lawsuit Against PC Drivers Headquarters L.P.
Posted: Feb 01, 2017 7:07 AM PST
San Jose, CA - February 1, 2017 - (Newswire.com)

AmbiCom Holdings ( OTCQB: AMBI ) announced today that new management is being brought in to restructure the company. A new CEO, Alain Lewand, has been appointed and additional hires of industry leaders will be coming shortly.

New management will be responsible for securing additional financing, clearing up debt related issues and becoming SEC compliant within the next several months along with seeking additional revenue related assets to bring into the company.

AmbiCom has also secured a line of credit from a private investor to assist in this turnaround. Funds will be used to pay down debt, get the company current in its filings and increase awareness of AmbiCom and its related new ventures.

We have also commenced legal proceedings in Federal Court, against PC Drivers Headquarters L, P, for breach of contract related to a mutual agreement between the two companies. The complaint stems from substantial unpaid revenues due to AmbiCom from PC Drivers, as it pertains to the agreement finalized by both parties a few years ago. Updates will be made available as we progress.

AmbiCom's management would like to thank all shareholders for their patience and continued support during this transition. Our goal is to make AmbiCom a leader in the technology marketplace with solid financials, increased market share and an enriched stock value.

Contact Information:

Alain Lewand
[e-mail]
312-339-3017

http://www.newscenter1.tv/story/34399157/ambicom-holdings-inc-otcqb-ambi-announces-new-management-line-of-credit-and-the-filing-of-lawsuit-against-pc-drivers-headquarters-lp