This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Seprotech Systems to issue 2.51 million shares for debt 2009-08-06 20:31 ET - News Release Mr. Matthew Anderson reports SEPROTECH TO ENTER INTO DEBT FOR SHARES SETTLEMENT AGREEMENTS WITH CERTAIN CREDITORS
Seprotech Systems Inc. has reached an agreement for the satisfaction of debts and commissions owed to sales staff
in the total amount of $125,500. Pursuant to the terms of the settlement
agreements, Seprotech and the staff have agreed to convert debt owed by Seprotech into
common shares of Seprotech resulting in the issuance of 2.51 million common
shares to the staff. The debts being converted have all been previously accrued and reported on the financial
statements of Seprotech. Completion of the transaction contemplated by the settlement
agreements is subject to the execution of the legal documentation and receipt of regulatory
approval. The remainder is available to Stockwatch subscribers.
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