Tuesday, February 01, 2011 4:40:19 AM
Press Release Source: Trey Resources, Inc. On Monday January 31, 2011, 9:46 am EST
LIVINGSTON, NJ--(Marketwire - 01/31/11) - Trey Resources, Inc. (OTC.BB:TYRIA - News) announced today that the Company has successfully completed the first phase of its financial restructuring. It has paid in full the first two installments due to Y.A. Global Investments ("YAGI") in accordance with the debenture amendment signed by the parties on November 1, 2010.
Funds for the payments were generated by internally-generated cash and a loan from the CEO. No additional shares were issued by the Company for these funds. The proceeds were therefore arranged with no additional dilution to existing shareholders.
Mark Meller, CEO of Trey Resources, stated, "Today represents a fresh start for our Company. With these payments, our agreement with YAGI is effective. There will be no conversions on our debentures in 2011, we have the ability to redeem our debentures on advantageous terms, and we have the certainty required to effectively restructure and recapitalize the business on the best terms for the Company and our shareholders."
Meller continued, "We are meeting with investment bankers and other professionals to begin the next phase of our process. Raising the capital we want on the terms we want will be a challenge in this environment, but our Company has a compelling story, and represents what we believe to be a dynamic opportunity in 2011. We are hopeful about our prospects."
Meller concluded, "It is also important that we thank YAGI for the financial support they have provided the Company since our founding in 2003. The Company would not be the success it is today without YAGI's assistance."
Recent SSNT News
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 07/30/2024 09:15:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:26:05 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:25:35 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:25:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:24:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:24:12 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:23:40 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 12:22:19 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/29/2024 09:15:04 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 07/29/2024 09:12:44 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 07/29/2024 08:50:01 PM
- Form SC 13G - Statement of Beneficial Ownership by Certain Investors • Edgar (US Regulatory) • 07/29/2024 08:33:56 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 08:27:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/22/2024 12:11:06 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 07/19/2024 11:12:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/05/2024 08:05:35 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 06/27/2024 10:03:57 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:20:07 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:18:51 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:17:29 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:16:10 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:15:43 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:15:18 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:15:02 PM
Duane Forrester Joins INDEXR as SVP of Search • MONI • Jul 31, 2024 11:46 AM
Lingerie Fighting Championships Help Fulfill Death-Bed Promise With First Major Motion Picture • BOTY • Jul 31, 2024 9:00 AM
Kona Gold Beverage Significantly Reduces Debt from Multiple Holders • KGKG • Jul 31, 2024 9:00 AM
Avant Technologies Opens Equity Line with GHS Investments as Company Explores Expansion into Additional Technologies • AVAI • Jul 30, 2024 8:00 AM
ELEMENT79 GOLD CORP PROVIDES UPDATE ON CHACHAS COMMUNITY CHARTER AND REVENUE GENERATION, M&A ACTIVITIES • ELMGF • Jul 30, 2024 8:00 AM
INDEXR AI Merges With Moon Equity Holdings Corp. (MONI), Creating a Leading-edge Technology Company • MONI • Jul 29, 2024 9:59 AM