AirTest Announces Balance Sheet Restructure
(firmenpresse) - DELTA, BRITISH COLUMBIA -- (Marketwired) -- 10/16/14 -- Mr. George Graham, President and CEO of ATI AirTest Technologies Inc. ("AirTest") (TSX VENTURE: AAT) wishes to announce the Company has completed a Balance Sheet restructure in order to reduce its working capital deficiency by $2,132,165. Company management has signed ''shares for debt'' agreements with creditors to account for $383,526 subject to the approval of the TSX Venture Exchange. Another group of creditors has signed Postponement of Debt agreements which will convert $1,748,639 of Current Liabilities into Long Term Liabilities.
Mr. Graham advised that "It is very difficult for public companies to raise capital at this time, particularly if they are seen to have an excessive debt load. Although our company has a strong sales growth opportunity at this time, we felt it was necessary to clean up our balance sheet as a first step in attracting the necessary financing to aggressively pursue our business plan and take advantage of the excellent growth opportunity we currently enjoy."
Statements about the Company''s future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company''s actual results may differ materially from the expected results.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
ATI AirTest Technologies Inc.
Mr. George Graham
President
(604) 517 3888
(604) 517 3900 (FAX)
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Datum: 16.10.2014 - 07:30 Uhr
Sprache: Deutsch
News-ID 1310450
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DELTA, BRITISH COLUMBIA
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Kategorie:
Equipment
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