Zenergy Brands, Inc. Makes a Second Installment this Month Towards Executing its Balance Sheet Clean-up Plan
By GlobeNewswire, January 18, 2018, 07:30:00 AM EDT
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Dallas, TX, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Zenergy Brands, Inc. (OTCQB:ZNGY), the nation's leading next-generation utility operating in the emerging smart energy and energy conservation industries, announced earlier this month that it has officially started cleaning up its balance sheet by paying off over $100,000 of convertible loans before the debt is converted into shares of ZNGY common stock.
Today, the Company is pleased to further announce that it has made another installment (its second this month) of $25,800 towards paying more of these convertible loans. This specific loan was tied to registered shares on the recent S1 filing, enabling Zenergy avoid immediate conversion.
Alex Rodriguez, CEO of Zenergy Brands, Inc., said, "We certainly have our work cut out for us this quarter but if we stay focused and consistent, each of these small efforts will add up and, before we know it, we would've accomplished one of our most critical goals, which is to clean up our balance sheet."
Zenergy continues to work diligently to provide long-term value for the Company and its shareholders alike by increasing revenues and executing its clearly defined growth plan that would allow ZNGY to become the premier source of smart energy, sustainability, and micro-grid solutions for commercial, industrial, and municipal customers across North America.
Rodriquez added, "My conviction that our business model is an industry game changer remains very strong; however, I also recognize that it is time for us to focus on fundamental building blocks, which for us means cleaning up the balance sheet and achieving our revenue goals, which must occur simultaneously."
ABOUT ZENERGY BRANDS, INC.
Zenergy Brands, Inc. (OTCQB: ZNGY), is a next-generation energy and technology company operating in the emerging smart energy/utility industry. The Company provides energy conservation, smart controls, and efficiency-based products and services as a fully-integrated energy company. Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCQB, a venture market designed for early-stage and developing U.S. and international companies. To learn more, visit www.zenergybrands.com.
Twitter: @ZenergyBrands
Instagram: @ZenergyBrands
YouTube: Zenergy Brands
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCmarkets.com.
INVESTORS & MEDIA CONTACT:
Email: investors@zenergybrands.com
Phone: (469) 228-1400
Fax: (469) 626-5101
Source: Zenergy Brand, Inc.
