PORTLAND, Ore., Jan. 16, 2018 (GLOBE NEWSWIRE) -- PDX Partners, Inc. (OTC PINK:PDXP) ("the Company"), a Telecom company, announces that it has eliminated debt from its balance sheet.
On November 8, 2017, the Company received a Florida State court approval of a settlement and stipulation (Case No. 2017 CA 5550) for the satisfaction Company debt in the amount of $188,919.62 through the issuance of shares which will be exempt from SEC registration in reliance upon Section 3 (a)(10) of the Securities Act based upon the Courts finding. The agreement provides the shares will be issued at 50% to the market price as defined in the agreement, and the owner may not own more than 9.9% at the time of issuance. As part of that agreement the Company initially reserved 208,000,000 of its shares with its stock transfer agent as of November 8, 2017.
Said PDX CEO Patrick Johnson: “We are happy to report that we will no longer be facing any additional dilution from this particular debt settlement and stipulation case which enables us to continue to build a strong company financially and fundamentally moving forward.” He continued.
About PDX Partners
PDX Partners, Inc. (OTC PINK:PDXP) is a Telecom company dedicated to creating revenue and shareholder value by marketing Telecom products and acquiring other long-term growth assets. The company was founded in 1997.
For more information go to: www.pdxpartners.net
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
PDX Partners, Inc.
Patrick J. Johnson
Chief Executive Officer