Puradyn Filter Technologies (OTC BB (PFTI)

[flippa]

CEO OF THIS STOCK WAS FORMER CEO OF AVIS..
JOSEPH VITTORIA MULTI-MILLIONAIRE WITH EXTENSIVE LIST OF HEAVY HITTER CONNECTIONS. HE OWNS 20 SOMETHING MILLION SHARES OF THIS STOCK. LOTS OF OPPORTUNITY HERE!!! GLTA

Puradyn Filter Technologies (OTCQB:PFTI) announces that CEO Joseph Vittoria has converted debt and accrued interest of $6.1M into 20.3333M shares of Puradyn's restricted common stock at a conversion price of $0.30 per share.
The company notes that the conversion price is roughly 10X Puradyn's recent closing price of $0.03 per share.
The conversion of debt to equity will be recorded as a reduction in long term debt and an increase in paid-in-capital in Puradyn's 2016 financial statements.
After the conversion, Vittoria will hold ~37.1% of Puradyn's outstanding shares.