TULSA, OK / ACCESSWIRE / December 7, 2016 / RJD Green (OTCPK: RJDG) announced an amended debt agreement with Equitas Group LLC.
As a first step in restructuring and retirement of debt in 2017, on November 8, RJD Green Inc. executed an extension of the convertible debenture with Equitas Group LLC and amendment of terms.
Both parties mutually agreed they desire to retire this debt through a more conventional lender as soon as possible. In the interim, Equitas and RJD Green have executed an extension of the note thru August 31, 2017 with amended terms more favorable to RJDG in both interest rate and conversion terms, which include; no trading of shares under $0.01, 15% conversion discount of 28 day mean trading value, maximum sale of 20% of daily trading, and 8% annual interest. Although no stock has ever been sold by Equitas to date, they hold 4.25% of total shares issued.
The dramatic increase in revenues and net operating profit reported for 2016, along with the anticipated IoSoft Inc. accelerated revenues beginning in second quarter of 2017, has prompted the RJD Officers and Directors in taking these first steps in the restructuring and retirement of debt in 2017. RJD Green is currently in discussion with institutional lenders and investment firms in regards to take out and the restructuring of certain debt instruments currently in place.
About RJD Green, Inc.
The Company operates as a holding company with a focus of acquiring and managing assets and companies. RJD Green operates in three divisions: RJD Green Healthcare Services Division, which holds interest in IoSoft Inc, a company that provides discrete payment technologies, services, and software that can be integrated into targeted offerings for healthcare provider networks, hospitals, healthcare payers, and individual providers; Earthlinc Environmental Services Division, which provides green environmental services and technologies; and Silex Holdings Division, which is engaged in specialty construction and industrial manufacturing and fills a market niche between the Home Depots and local contractors. Silex offers installed granite/other counter tops, cabinets, and related products to the residential builder, commercial contractor, remodel contractor, and retail customer. Visit http://www.rjdgreen.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: RJD Green, Inc.