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.