May 11, 2015, Press Release
Irvine, CA, May 11, 2015 ‐ Broadside Enterprises, Inc. (OTC PINK: BRSE) announced today it has reached an agreement with two of its non‐affiliate note holders to cancel $539,000 in convertible debt as the company continues to clean up its capital structure and remove potential sources of dilution.
As part of this agreement, a third party investor has agreed to acquire for US$150,000 the remainder of the convertible debt owed by the company to one of the two non‐affiliate note holders in the principal amount of US$ 74,800.
Emaji will not owe any money to the non‐affiliate note holders after this transaction. The non‐affiliate note holders will however remain substantial holders of the company’s common stock and will benefit from any increase in the price as a result.
With the debt-to-equity conversion by the Company’s chairman announced on February 12, 2015, Emaji has now reduced its convertible debt by $1,726,454, representing 61% of the total, since January 1, 2015.
The company is working on additional steps to create a solid financial foundation for future business development.
Additional information about Emaji can be found in the Company's reports and filings at www.OTCMarkets.com.
Broadside Enterprises, Inc. (OTC PINK: BRSE), based in Irvine, California, is a publicly traded company with three divisions: Sports, Entertainment, and Ventures.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Emaji Investor Relations