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Thursday, November 30, 2017 6:59:09 PM
https://www.otcmarkets.com/stock/PDXP/news/PDX-Partners-Inc--Eliminates-Additional-Debt-From-Balance-Sheet?id=175692&b=y
"PDX Partners, Inc. (OTC PINK: PDXP) ("the Company"), a Telecom company, announces that it has eliminated significant debt from its balance sheet. On November 8, 2017 the Company received a Florida State court approval of a settlement and stipulation (Case No. 2017 CA 5550) for the satisfaction Company debt in the amount of $188,919.62 through the issuance of shares which will be exempt from SEC registration in reliance upon Section 3 (a)(10) of the Securities Act based upon the Courts finding. The agreement provides the shares will be issued at a 50% to the market price as defined in the agreement, and the owner may not own more than 9.9% at the time of issuance. As part of that agreement
the Company initially reserved 208,000,000 of its shares with its stock transfer agent as of November 8, 2017. “This transaction is significant because it represents the last of the companies aged debt accrued on our balance sheet since July 3, 2014.” Said CEO Patrick Johnson. "
Puts the total O/S to 749,000,000 once ongoing conversions are complete (maxed out). There are 110,000,000 still to be converted which will be completed no earlier than 22 December 2017. Additionally, unless the share price rises significantly, more shares will be required to complete the settlement.
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