$HIMR update
HOLLUND INDUSTRIAL MARINE UPDATE ON FINANCIAL DISCLOSURE AND ELIMINATION OF DEBT
Nov 20, 2015
OTC Disclosure & News Service
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BLAINE WA, Nov. 20, 2015 (GLOBE NEWSWIRE) -- Hollund Industrial Marine, Inc. (Pinksheets: HIMR.PK), an underwater forest management company, offers an update to shareholders on financial filings and the company’s progress with debt reduction.
Lonnie Hayward, Chairman and CEO of Hollund, stated, “We have worked very hard for the past few months to prepare the company’s financials, NOT in the same fashion as we have in the past, but with the intent of becoming auditable. As we work towards taking HIMR to the next level, there are certain things we must do, and this is just one of the many steps.
This is far more exhaustive than is visible to the naked eye, but I think it’s safe to say we have cleared ourselves of some clutter and baggage that has been with HIMR since its inception.
With that being said, we have begun eliminating old debt from the books and will continue to negotiate with all creditors and consultants until we are able to reduce these liabilities down to a more manageable amount. This will allow us to bring in the type of responsible, non-toxic financing that can be allocated to building our company’s infrastructure, and not simply resolving past issues.
I look forward to updating our shareholders with more positive news in the very near future.”
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (OTC PINK: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model -- including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales, adds value for our shareholders.
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
