Exobox Technologies Corp (EXBX)

[NDebt]

"Beleaguered Tech Company Exobox To Acquire Ohio Production To Boost Cash Flow
Article By Steve Toon
Published Oct 14, 2009

Software company Exobox Technologies Corp., Houston, (OTCBB: EXBX) plans to acquire 15 producing oil and gas wells in the Clinton and Marcellus shale region in Ohio from an undisclosed private company for $13.25 million.

The company says it intends to use the cash flow and net worth from the oil and gas assets to further develop the company's software products and technologies. On Oct. 1, Exobox announced that it is curtailing operations including laying off substantially all of its employees, and pursuing strategies to realize value for its shareholders and creditors.

“Upon the closing of the transaction, this will enable Exobox to continue its operations as originally planned. It should provide us critical mass and bring substantial asset value to the company,” says Exobox CEO Kevin Regan.

The acquisition price includes the debt assumption of no more than $3 million, as well as the issuing to the seller of a combination of convertible notes, convertible preferred stock and common stock that on a fully-converted basis would not exceed 9.9% of the total shares outstanding of the company.

Exobox develops home user and server security software products."

The article above is just a different version of the press release.

http://www.oilandgasinvestor.com/Headlines/2009/WebOctober/item46882.php