Stella Diagnostics Inc (SLDX)

[fla-trader]

TDEY had good news yesterday:
TDEY is pleased to announce that the Company has reduced its long term liabilities from ($2,306,554) for year-end Dec. 31, 2010 to ($1,425,602) for period ending June 30, 2011. As a result of the debt forgiveness, the Company still expects to post a profit for 6 months ending June 30, 2011, despite showing a Net loss for the 2nd Quarter.

As part of the negotiated settlement agreement, 3D Eye Solutions was able to reduce its outstanding liabilities by $879,454. In addition, 3D Network International signed and paid for a 10 Year license agreement. The settlement and license agreement is expected to reduce operational costs by more than $300,000 a year.