InternetArray Inc (INAR)

[Sirpeter]

InternetArray, Inc., (OTC: INAR), has completed a major debt restructuring, paving the way for the Company's future growth. Holders of Senior Debt have agreed to waive payment of nearly 50% of Senior Debt obligations and associated accrued interest totaling approximately $2,000,000. This obligation has been on the Company's books since 1996 and its elimination creates a gain for 2012. Further, based upon meeting future performance milestones in 2013, the Debt holders have agreed to additional debt elimination.

Now that the major part of the debt is cleared, InternetArray is positioned to expand, enter into new business ventures and partnerships that have global reach, holding significant prospects for the Company.. The company has been in contact with the management of Marine Exploration Inc. (OTC: MEXP) regarding a possible joint venture or merger.