Business
Trans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions
Trans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions.
About this update from Trans Global Group, Inc.
[{"type":"text","content":"\n\n\n\nTrans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions\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\nTrans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions\nPR Newswire\nCORAL SPRINGS, Fla., June 9, 2014\n\n\n\nCORAL SPRINGS, Fla., June 9, 2014 /PRNewswire/ -- Trans Global Group, Inc. (PINKSHEETS: TGGI) has been working the past few months to reduce the amount of long term debt on the books dating back to 2009 through a combination of debt forgiveness, equity conversions, the sale of unused assets and corrections.  TGGI has been able to reduce its debt from 819,568 to $438,073 a reduction of approximately 46% and has reduced the accrued interest from $145,700.87 to $62,960.21 or approximately 26% from the numbers posted in the March 31 financial report, subsequently TGGI has not added any new additional debt since the end of the first quarter.\n\nTGGI is working to further reduce its debt which is needed to complete a series of acquisitions for both TGGI and its subsidiary.\n\nThere will be no new accrued interest until January 1, 2015 if there is any remaining debt left.\n\nThe Company has created a holding company called TGGI Holdings, LLC in the State of Florida in preparation of future acquisitions.  \n\nThe Company has negotiated deals with several entities to be acquired for the parent company and the subsidiary in ranging business sectors from music and publishing, construction, environmental projects and LED lighting including grow lights. \n\nThe foregoing press announcement contains forward-looking statements that can be identified by such terminology such as \"believes,\" \"expects,\" \"potential,\" \"plans,\" \"suggests,\" \"may,\" \"should,\" \"could,\" \"intends,\" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be a...