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Net Savings Link, Inc. Completes Conversion of Outstanding Promissory Notes to Stock Rendering Company Debt Free
Net Savings Link, Inc. (OTC Bulletin Board: NSAV), a company in the business of offering quality choices of discount deals to the mass consumer market of individuals, families, organizations, and networks throughout the United States, announced today that on August 5, 2011, its board issued a promissory note to Cen-One Global Partners, a Hong Kong company, wherein it received the sum of $100,000. The note had a maturity date of two years from August 5, 2011 and was convertible into shares of common stock based upon the market price. The addition of the $100,000 note brought the total money owed to $949,931.76 plus interest.
On or about August 15, 2011 the holders of the notes described above, converted their promissory notes into 13,079,513 restricted shares of common stock thereby extinguishing the foregoing debt relating to the notes. 13,079,513 shares of common stock have been issued, and the former promissory notes have been cancelled. The shares of common stock were issued pursuant to Regulation S of the Securities Act of 1933 in that the transaction took place outside the United States of America with a non-US person.
"As of this time, we are pleased to announce that Net Savings Link, Inc. is moving forward to its next phase debt free," said David Saltrelli, CEO.
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