$EPAZ news!
Epazz, Inc. Eliminates Toxic Debt, Ends Toxic Financing and has Paid off Toxic Convertible Debt
CHICAGO, IL--(Marketwired - Mar 28, 2017) - Epazz, Inc. (OTC PINK: EPAZ), a leading provider of cloud-based business software solutions, has announced the following updates for shareholders regarding the Company's business direction as well as efforts to eliminate toxic debt.
The Company has taken on no new debt in the last year from toxic lenders and is committed to using other funding instruments, which will not include toxic terms. The Company has no debt with any of the convertible debt lenders such as Asher, KBM St. George, Magna Group or IBC. The debt lenders have no shares of the Company.
Over the past year, Epazz management has worked diligently with an ultimate goal of eliminating all toxic debt from the Company's books. The company is working with their attorneys to fight back against predatory funders. This process has involved negotiating with current creditors with regard to debt settlements agreements, which include reduced balances, reduced interest rates (in some cases as low as 0 percent), elimination of many associated legal fees.
Epazz, Inc.'s CEO, Shaun Passley, Ph.D., said, "We have obtained the interest of investors who are willing to fund the Company to grow it to the next level. Part of the agreement with the investors is to eliminate all debt through principal debt settlements and take on no new debt. In the meantime, we continue negotiations with our current debt holders to pay down and eventually eliminate all debt positions. We are getting into a position to start growing the Company."
