Zenergy Brands, Inc. Begins Executing Its Balance Sheet Clean-up Plan by Paying off a Sizeable Portion of the Company's Convertible Debt Obligations
DALLAS, TX, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Zenergy Brands, Inc. (OTCQB: ZNGY), the nation's leading next-generation utility operating in the emerging smart energy and energy conservation industries, announced today that it has officially started cleaning up its balance sheet.
This is consistent with the Company’s business objectives for the first quarter of 2018 as communicated in its recent end of year Shareholder Newsletter. Alex Rodriguez, CEO of Zenergy Brands, Inc., said, “Cleaning up the balance sheet is one of three major objectives for us this quarter. I look forward to continuing to chip away at these types of debt obligations, while simultaneously introducing our company’s products and services to the marketplace.”
The Company made its first major step toward this objective by paying off over $100,000 of convertible loans before the debt is converted into shares of ZNGY common stock.
Rodriquez added, “As we grow and get healthier, we gain increased freedom and flexibility to fulfill more Zero Cost installations, which, of course, allows us to start achieving our revenue goals for this year.”
Zenergy Brands, Inc. continues to work diligently to provide long-term value for the Company and its shareholders alike by increasing revenues and executing its clearly defined growth plan that would allow ZNGY to become the premier source of smart energy, sustainability, and micro-grid solutions for commercial, industrial, and municipal customers across North America.
ABOUT ZENERGY BRANDS, INC.
Zenergy Brands, Inc. (OTCQB: ZNGY), is a next-generation energy and technology company operating in the emerging smart energy/utility industry. The Company provides energy conservation, smart controls, and efficiency-based products and services as a fully-integrated energy company. Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCQB, a venture market designed for early-stage and developing U.S. and international companies. To learn more, visit www.zenergybrands.com.
YouTube: Zenergy Brands
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCmarkets.com.
CONTACT: INVESTORS & MEDIA CONTACT: Email: [email protected] Phone: (469) 228-1400 Fax: (469) 626-5101