On4 Communications Inc (ONCI)

[reader3]

As usual, your math and facts are wrong. Debt was settled for 33 cents on the dollar (LESS THAN 50 percent), not 50 percent. So total amount to be paid is 600K, not 900K.

"We are pleased to announce the removal of $1.8M in Long Term Debt. We settled this debt for 33 cents on the dollar. Our move to Colorado will show no long-term debt on our books. This was the last important step in our debt removal plan. Our increased revenues have all been reinvested in the company to be able to grow as fast as we have been. The reason this was so important to accomplish was the interest on the debt was a huge burden to our operations."

http://www.otcmarkets.com/stock/ONCI/news/On4-Communications-Announces-Second-Meeting-With-QVC-and-Pilot-Order-With-a-Large-Middle-Eastern-Taxi-Company?id=172718&b=y