Brendan Technologies Inc.'s Major Investor Converts Outstanding Debt at $0.50 Per Share.Corporate Officers Agree to Convert Debt, Accrued Salary and Interest CARLSBAD, Calif. -- Brendan Technologies, Inc. (BDTE.OB, www.brendan.com), an innovative analytical software Analytical software is software that is designed specifically for and development of a particular environment or object. company, announced that one of its major investors has converted a $1 million convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. into common stock at a fixed conversion price of $0.50 per share. Several officers and directors followed suit by converting an additional $100,000 of convertible debentures and committing to convert approximately $600,000 of accrued salaries and interest at the same $0.50 per share price. "In addition to eliminating debt from our balance sheet, these conversions underscore our insiders' strong commitment to aligning our collective interests, with those of our current and future shareholders," said John Dunn For the poet, see . John Dunn can refer to:
About Brendan Technologies, Inc. Brendan Technologies (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BDTE), a developer and marketer of innovative analytical software, is actively providing software solutions to improve the accuracy, quality control, workflow, and regulatory compliance of immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. and bioassay Bioassay A method for the quantitation of the effects on a biological system by its exposure to a substance, as well as the quantitation of the concentration of a substance by some observable effect on a biological system. testing in laboratories in the biopharmaceutical, clinical, research, veterinarian veterinarian /vet·er·i·nar·i·an/ (vet?er-i-nar´e-an) a person trained and authorized to practice veterinary medicine and surgery; a doctor of veterinary medicine. vet·er·i·nar·i·an n. and agricultural industries. The Company's customers, many of whom are Fortune 1000 organizations, represent some of the largest corporations in their respective fields. Brendan Technologies is continually redesigning and expanding its product lineup to better capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing demand of its target markets for more advanced software. For more information, visit www.brendan.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement FORWARD-LOOKING STATEMENTS: This press 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. For a discussion of such risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-KSB, as amended, for the most recently ended fiscal year. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. |
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