Anviron Announces Long-Term Debt Reduction and Share Structure Changes.IRVING, Texas -- The Anviron Holding Company (Pinksheets:ANVH) ("Anviron"), a manufacturer and marketer of "Clean & Green" products and technology, announced today that it has filed an Amendment to the Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. reducing the conversion rights of its preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . In addition, the company announced the reduction of its remaining long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. by $239,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . "As our cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. begin to grow after the trying and difficult growth phase we have experienced, the company has been able to reduce our long term debt by more than $239,000 in the month of August. This reduction is a pivotal step in controlling our shareholder base, as this reduction also eliminates the last remaining convertible note posted on the books of the company," stated Marcie Corbin acting CFO See Chief Financial Officer. of Anviron. The company in an effort to position itself in the most favorable like to investors has taken the steps in cooperation with its largest shareholders to reduce the current conversion rights of its preferred stock. "We have filed today an amendment to the articles of incorporation that will reduce the current conversion rights of our preferred stock and place a three year vesting provision on the shares," stated Polly Anderson - Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager for Anviron. "Upon completion of this task with the State of Delaware, we will have dramatically increased our diluted earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation calculations for the company and reduced investors concerns over potential short term dilution into the market." The new provisions will require a three-year vesting of the preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , prior to any conversion into common stock in the company. The voting rights of the shares have not been modified, and the "founders" will continue to have the right to convert common shares to preferred shares without notice. Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about Anviron and its product offerings visit us on the web at www.anviron.com. This press release contains forward-looking statements regarding Anviron within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Anviron. Forward-looking statements speak only as of the date on which they are made and Anviron undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion