GLFH
GLFH > GALENFEHA COMPLETES RETIREMENT OF ALL CONVERTIBLE NOTES
FORT WORTH, TEXAS, February 8, 2018—Galenfeha, Inc. (OTC: GLFH) today announced the termination and extinguishment of all convertible notes the company entered into 2nd and 3rd quarters 2017. The company disclosed the note payoffs on Form 8-K, filed with the Securities and Exchange Commission on Thursday, February 8, 2018.
Galenfeha President and CEO, James Ketner commented: “This action removes an obstacle in front of investors, and reaffirms our commitment to our shareholders. The management of the company has purchased large positions in the open market, and therefore our interests are aligned with all current and future shareholders.”
The company has extinguished all debentures that convert into stock, and there is no more stock to be converted at the time of this press release. The company has no options or off balance sheet arrangements that convert into stock.
In closing, Mr. Ketner stated: “With our recent acquisition of Fleaux Solutions, our 2018 year-end earnings guidance of $.04 per share, and with yesterday’s closing price of $.03, our stock is currently trading at a forward P/E of less than 1.”
About Galenfeha, Inc.
The company generates revenue by receiving royalties from products we developed, providing engineering, regulatory, and business consulting services across numerous disciplines, such as aerospace, automotive, and medical, and by making investments in companies that our management team feels to be undervalued. With the recent acquisition of Fleaux Solutions, LLC, the company also generates revenues and earnings through government contracts.
For more information on Galenfeha, please visit www.galenfeha.com
