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Advanced Powerline Technologies, Inc., Today Announces The Signing Of An Agreement To Retire Company Debt.
Advanced Powerline Technologies, Inc., Today Announces The Signing Of An Agreement To Retire Company Debt..
About this update from Advanced Powerline Technologies, Inc.
[{"type":"text","content":"Advanced Powerline Technologies, Inc., Today Announces The Signing Of An Agreement To Retire Company Debt.\r\n\r\nWOODWARD, OK -- (PINKSHEETS) - June 21, 2006 -- Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today the signing of an agreement with a creditor to retire company debt. \r\n\r\nAdvanced Powerline Technologies, Inc. (APT), reports today that it has signed an agreement with DTP, LLC, a major creditor, to retire over $500,000.00 of existing company debt by issuing just over 500,000 shares of stock in payment of the debt. This transaction retires debt at a ratio of just over $1 per share of stock. A spokesman from DTP stated, \"We are happy to accept this stock in payment for the money owed to us by APT because we believe that APT will have a very positive and prosperous future, and we want to have a part in that future. We believe that the shares of APT are undervalued in the market now, and we are confident that APT's success will make our investment a wise and profitable one.\" A spokesman for APT said, \"The company is delighted that DTP has chosen to accept our offer of stock in payment of their debt. We appreciate the great confidence they have shown in us and the very tangible way they have expressed that confidence. We, too, believe in the future of APT, and we welcome their participation as shareholders. The company is excited about this transaction because we believe that by reducing existing debt we have enhanced the value of the company for all shareholders and taken a giant step toward that bright future that we look forward to.\"\r\n\r\nFor everyone interested in obtaining information about the company, we encourage you to visit our web site at www.oneaptdrive.com, where you will find the information we have published as well as other publicly disseminated documents. While you are there, register for a chance to win one of the company's state-of-the-art thirty two (32) inch LCD monitors with high definition tuner (HDTV) and PLC InsideTM, the winner to be announced Saturday August 5th, 2006. Full rules of the contest are available on that web site. For another source of information you may visit pinksheets.com and view the information that is posted in that public forum. This is the only information available to the general public at this time. We always encourage potential inves...