Science & Technology
Science and Technology
Science and Technology
Wed, December 16, 2009
Tue, December 15, 2009 Options Media Group Announces Successful Restructuring of Debt Into Equity With Investors
BOCA RATON, FL--(Marketwire - December 15, 2009) - Options Media Group Holdings, Inc. (
As part of the recapitalization of the Company, the debt holders have agreed to convert $1,410,000 of debt into convertible preferred stock ("Series A"). The same note holders exchanged $309,000 of debt due December 31, 2009 for $309,000 of convertible notes due February 12, 2010. The Company is still in negotiations to convert the remaining debt into equity.
"We are pleased that we have reached an agreement with the majority of our debt holders to convert into equity. We believe that this conversion reflects their strong confidence in our ability to enhance the value of Options Media," said Mr. Scott Frohman, CEO of Options Media Group. "The debt reduction both enhances Options Media's capital structure for current shareholders while significantly strengthening the balance sheet. This will enable the Company to attract opportunities for future growth while reducing our cost of capital in the future. Thereby allowing our business to more aggressively ramp up as we focus on growing both our bottom and top-lines as we enter 2010. We believe that this conversion is evidence of the faith that our new investors have in Options Media's management to execute on becoming a significant player in the Mobile and Internet Marketing industry."
About Options Media Holdings, Inc.
Options Media Group Holdings, Inc. is an email services provider for on-demand e-mail marketing to create, send, and track professional and permission-based e-mail marketing campaigns. Additionally, Options Media provides precision direct marketing solutions including email marketing, sms/mobile marketing, sms/keyword marketing, custom lead generation and creative services. Options Media provides clients with access to software, hardware, bandwidth, and exclusive domains and IP addresses, as well as the ability to upload and manage subscribers, and review and upload campaigns and track results for a 360-degree full-service customer marketing solution.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including reducing the future cost of capital and growing both its bottom and top-lines. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include economic issues relating to the current recession, potential advertising spending, potential consumer spending reductions and the condition of the domestic and global credit and capital markets. Further information on Option Media Group's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-K filed on April 1, 2009. Options Media does not undertake any duty nor does it intend to update the results of these forward-looking statements.
