Business
Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today that it is ending 2006 by signing an agreement with a creditor to retire over 644,000 dollars of company debt.
Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today that it is ending 2006 by signing an agreement with a creditor to retire over 644,000 dollars of company debt..
About this update from Advanced Powerline Technologies, Inc.
[{"type":"text","content":"WOODWARD, OK -- (PINKSHEETS) - December 30, 2006 -- Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today that it is ending 2006 by signing an agreement with a creditor to retire over 644,000 dollars of company debt. \r\n\r\nAdvanced Powerline Technologies, Inc. (APT), reports today that it has successfully negotiated an agreement to provide a major creditor with nearly 300 quantity APT products in exchange for the retirement of over $644,000 of existing company debt. The products involved include a mixture of flat panel LCD High Definition Television sets (HDTV) with built in ATSC tuners and flat panel LCD monitors. All the products feature superior components that work together to produce stunning video quality, because it's what's inside that countsTM. A spokesman for APT said, \"We are very happy with this agreement because we believe it provides our company with the maximum advantage for the assets we had invested in our existing inventory. We believe this enhances the value of our company for all shareholders as we move into 2007.\" \r\n\r\nPreviously, APT signed a deal with another creditor in June to retire over $500,000.00 in debt in return for 500,000 shares of stock, retiring debt at a ratio of just over $1 per share. Taken together, APT has eliminated over 1.15 million dollars in debt in 2006.\r\n\r\nThe company spokesman further stated, \"We believe we have made great strides in 2006, and we look forward to an even stronger 2007. While APT intends to continue to offer high quality HDTV sets, the company plans to renew its focus on Power Line Communication (PLC) and Broadband over Power Line (BPL) technology. We are confident that this will lead to a bright future into 2007 and beyond.\"\r\n\r\nAdvanced Powerline Technologies, Inc.'s principal business focus is to create and develop Broadband over Power Line (BPL) and Power Line Communications (PLC) friendly devices, products and services. The company's principal products at this time are liquid crystal display (LCD) digital televisions with high definition tuners (HDTV). The company intends on marketing the sales of High Definition Digital Televisions (HDTV) internationally and domestically. Upon the completion of research, development, and the verification of test results of the company's Broadband over Power Line (BPL) and Power Line Co...