EYSM was strong again yesterday, which was the third up day in a row even with the overall market tanking. EYSM had great news out Monday and even more good news Wednesday - a great play coming off the bottom with huge upside. The pending acquisition is expected to immediately double revenues and make the company immediately profitable. You want to have at least a starter position in this one:
TheDirectory.com Slashes More Than $2.3 Million in Outstanding Debt
Press Release Source: TheDirectory.com, Inc. On Monday August 1, 2011, 9:47 am
TAMPA, FL--(Marketwire -08/01/11)- TheDirectory.com, Inc. (Pinksheets: EYSM.PK - News) an emerging leader in the Local Business Search Market , today announced it has secured agreements enabling it to cut more than 50% of its total outstanding debt, over $2.3 million US, and dramatically improve its balance sheet.
TheDirectory.com Founder and CEO Scott Gallagher, stated, "With today's debt restructuring we have taken a major step forward in positioning our Company for future growth as well as make the Company a more attractive investment vehicle not only for our current stockholders but for institutional and accredited investors as well." Gallagher continued, "We were able to renegotiate the majority of our outstanding liabilities in a manner that allows TheDirectory.com to remove more than 50% of its outstanding liabilities, some $2.3 million, off its balance sheet by converting some debt to preferred shares and by restructuring the terms of several other agreements in a mutually beneficial manner."
TheDirectory.com management plans to provide shareholders with an update relating to its pending acquisition later this week
TheDirectory.com Secures Lock-Up From Investors
08/03/2011 @ 10:21AM MarketWire
TheDirectory.com, Inc. (PINKSHEETS: EYSM), an emerging leader in the Local Business Search Market, today announced that it has secured a short term "Lock-Up" agreement from certain investors.
TheDirectory.com Founder and CEO Scott Gallagher stated, "In addition to the progress we've made by reducing our debt from around $4.1 million at the end of Q2 to under $2 million today, we've now secured a 30 day freeze on any stock conversions from most of our active investors. We're very pleased with the outcome of our debt restructuring that allows us to remove over $700,000 in non-cash derivative valuations from our books and convert nearly $1 million into preferred shares that convert into 4.99% of the Company's outstanding shares with no conversion for the next 12 months. Additionally, as part of the restructuring, we'll be canceling over 54 million restricted common shares later this week."
TheDirectory.com management plans to provide shareholders with an update relating to its pending acquisition later this week.
AI
