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For the Earth Corporation (FTEGD) Announces Exchange of its Affiliate Debt for Equity in Convertible Preferred Stock
For the Earth Corporation (FTEGD) Announces Exchange of its Affiliate Debt for Equity in Convertible Preferred Stock.
About this update from For The Earth Corp.
[{"type":"text","content":"Phoenix, Nov 11, 2013 8:00 AM (eTeligis via ACCESSWIRE) - For the Earth Corporation. (OTC PINK: FTEGD) is pleased to announce that it will be issuing Anti-Dilutive Convertible Preferred Stock to its Affiliates and Insiders in exchange for the Affiliate debt & Insider Loans in the company. The exchange effectively eliminates all of the Insiders debt from the balance sheet at For the Earth Corporation. Nelson Grist, CEO of For the Earth Corporation states, \"By eliminating our Management and Insider Debt, this is a huge step in advancing our ongoing negotiations to bring down our non-affiliate debt. Our priority is to bring our debt to equity ratio down, so that we can attract investment & equity into the Company. Additionally, For the Earth Corporation will seek to issue these securities to its stockholders, pending FINRA approval.\"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 contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.\t Company Contact Information: Mr. Nelson Grist, Chi...