Replies to post #7300 on AccessKey IP, Inc. (fka AKYI)

[funguy]

No it is not what I said. It is what AKYI said. There is another PR that talks about the agreement too. Look it up if you like.

AccessKey, Inc. Announces Reduction of Legacy Debts





ALBUQUERQUE, NM announced today that the Company has paid down $675K of approximately $1.6 Million or 42% of long term debentures that were incurred by previous management. This was done in an effort to prepare AccessKey for the future growth of its businesses.




AccessKey IP's Chairman, CEO, George Stevens, stated, "We have reviewed the outstanding liabilities of AccessKey and it's readily apparent that some of the debts incurred by the former management team have to be dealt with in order to give the company a fighting chance to succeed and move forward.

The overhang from these previous debts would stymie the ability to finance the company responsibly into the future."




Under current management, the Company is working to restructure agreements with remaining debt holders to eliminate or restructure the remaining Company debts and debentures. Stevens continued, "After lengthy discussions with AccessKey's management team and a comprehensive review of the Company's business plan and operating models, we believe that the debt holders and investors will accept restructuring based on the potential they believe AccessKey possesses."