LEEP, Inc. Announces Major Debt Settlements
18 November 2009 - 5:59AM
Business Wire
LEEP, Inc. (Pink Sheets: LPPI), announced today that the company
has reached debt settlement agreements with its major
institutional, secured and unsecured creditors. Achievement of
agreements to eliminate the substantial debt load the company has
been carrying has been at the forefront of the business strategy
the company has been pursuing since changing management. A
spokesman for the company stated, “This is an important milestone
for the future of LEEP, Inc., and marks the beginning of a new
chapter in the future growth and development of the company. The
company has achieved a key objective in management’s quest to
become debt free, working with creditors who have been supportive
and enthusiastic about the company’s prospects. Settling millions
of dollars of long term debt liability, and eliminating the
associated debt service, will enable the company to operate with
positive cash flow. This also insulates the company in a
significant way from economic swings, such as the recession that
has gripped the country for the past year. We can now focus the
majority of our attention on the diversified sales and marketing
opportunities that exist for our product domestically and
worldwide. As a result, management is aggressively implementing a
marketing program as the next step in its business plan.”
For more information regarding the company, contact John
Williams at 604-495-1766, and see our web site at
www.leepinc.com.
The "LEEP" name and logo, LeepCoreTM, trademarks, and service
marks are the property of LEEP, Inc.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements regarding
future events that involve risks and uncertainties that could cause
actual results to differ materially. The Company assumes no
obligation to update forward-looking information to reflect actual
results, changes in assumptions or changes in other factors
affecting forward-looking information. We refer you to the
documents that LEEP, Inc. files from time to time with the
Securities and Exchange Commission which contain additional
important factors that could cause its actual results to differ
from its current expectations and from the forward-looking
statements contained in this press release. Disclaimer: The Company
is not current in its SEC filings. Management is in the process of
bringing the Company’s SEC reporting status current.
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