Broadleaf Capital Reaches Definitive Settlement on Largest Liabilities.Business Editors SAN JACINTO San Jacinto, river, c.130 mi (210 km) long, rising in SE Texas as the West Fork and flowing S to Galveston Bay. Its chief tributary is Buffalo Bayou, and both the bayou and the lower river are used for the Houston ship channel. , Calif.--(BUSINESS WIRE)--May 21, 2002 Broadleaf broad·leaf adj. Broad-leaved. Adj. 1. broadleaf - having relatively broad rather than needlelike or scalelike leaves broad-leafed, broad-leaved Capital Partners, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BDLF) today announced the Company has successfully negotiated a significant and final reduction of $2 million plus dollars in several previously unresolved judgment payables. The settlement structure represents a reduction to less than 10 cents on the dollar of the outstanding amounts and consists of both cash payments, over a term period, and restricted stock. Broadleaf Capital Partners' Interim President, Robert Braner, stated, "Finalizing this transaction has been a critical part of the Global workout strategy and restructuring, and is an important milestone. It provides the Company with a significant cost saving opportunity, the platform for a reduction in general administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , and greater flexibility to management, in bringing forward financial resources and assets." Braner continued, "Most importantly, the completion and successful settlement of these outstanding liabilities is expected to remove the major barriers that have prevented the potential for a revitalization of the Company over the past 15 months. We now expect to be able to announce some specific progress, with regard to new business operations for Broadleaf Capital, in the coming days." 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. statements under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks and other risk factors detailed in the company's Securities and Exchange Commission filings. |
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