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Axiologix Enters Into $800,000 Equity Transaction With Institutional Investor Ironridge Technology Co. - Underpinning Growth And Acquisition Strategy
Axiologix Enters Into $800,000 Equity Transaction With Institutional Investor Ironridge Technology Co. - Underpinning Growth And Acquisition Strategy.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix Enters Into $800,000 Equity Transaction With Institutional Investor Ironridge Technology Co. - Underpinning Growth And Acquisition Strategy\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAxiologix Enters Into $800,000 Equity Transaction With Institutional Investor Ironridge Technology Co. - Underpinning Growth And Acquisition Strategy\n\nPR Newswire\n\nSARASOTA, Fla., Feb. 26, 2013\n\n\n\n\n\n\n\n \n \n \n\n\nSARASOTA, Fla., Feb. 26, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (AXLX.PK), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today announces it has settled over $800,000 in debt and trade payables, removing these obligations from its balance sheet, in exchange for issuance of common stock to Ironridge Global Technology, an institutional investor specializing in direct equity investments in telecommunications, electronics, computer, and technology companies.\n\n\nAs a result of the transaction, Axiologix has turned secured debt and other strategic payables on the balance sheet into equity. This has significantly strengthened the balance sheet position that will give existing customers more confidence, support the Company's acquisition process and allow the positive cash flows currently created in the business to be focused on growth rather than debt servicing. Full details of the transaction can be found in a Supplemental Information Statement filed today at www.otcmarkets.com/stock/AXLX/filings.\n\n\n\nVincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, \"This is a hugely important event for us and comes at a great time for our Company. We recently announced the completion of a Letter of Intent to acquire a leading IP voice and data operator and having such a supportive and strong investor come into the business at this time underpins our ability to close this and other transactions. I would like to thank Ironridge for their confidence in Axiologix and our strategy and we look forward to a very rewarding partnership going forward...