MSGI Technology Solutions, Inc.(fka MSGI)

[enlyten]

per the pr. the debt is being wipped out in excahnge for stakes in the subs, which is comforting plus this company taking the stakes is a billion dollar company! that in my opinion is biggggggggggg

MSGI has formed a strategic partnership with Attonbitus Development Inc. for the purpose of expanding our green technology business, accelerating the overall growth of MSGI and reducing debt. Attonbitus, an American company with operations in Bucharest, Romania and Dubai, UAE, focuses on sustainable development in commercial, resort and infrastructure projects. Attonbitus uses the principles of sustainable design and recycled materials combined with clean domestically produced renewable energy resources including solar energy and wind. Attonbitus Management currently has over $4 billion dollars in projects in various stages of development and has $750 million in assets on its balance sheet.

Attonbitus has agreed to purchase the Convertible Notes (which originated 2006 through 2009) and presently remain on the Company's balance sheet. Upon closing, Attonbitus will extinguish the $12 million in debt and convert the value into a series of investments in various MSGI operating subsidiaries. MSGI and Attonbitus are also negotiating an additional investment to meet the working capital demands of the Company enabling it to complete the development cycle and immediately begin the commercialization process of various new breakthrough products.

http://finance.yahoo.com/news/MSGI-Announces-Strategic-iw-83541409.html?x=0&.v=1