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Strengthening the Balance Sheet, Advanced Cell Technology (OTCBB: ACTC)

$3M in debt converted to equity, elimination of approximately $33M in indebtedness over past 14 months and convertible debentures reduced to $890K.

ACTC.OB has strengthened its balance sheet through the elimination of approximately $3M in debt over the past several weeks.

  • The conversion of senior and subordinated debentures to equity has reduced the outstanding convertible debentures to approximately $890K;
  • Since 9/09, ACT has eliminated approximately $33M in indebtedness.

For the past 3 years, the monthly amortization of certain debentures and conversion to equity of other indebtedness has contributed to a regular supply of stock that has adversely impacted trading. William M Caudwell, IV, Chairman/CEO hopes the elimination of most of that debt that our stock will begin to reflect ACT’s significant recent accomplishments and the potential for its technology platform in the future.

  • Anticipate the re-capitalization of outstanding shares, currently amounting to 1.09B shares excluding warrants and options with a float of 938.5M.