Converge Global Announces Further Debt Restructuring.Business Editors SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif.--(BUSINESS WIRE)--May 9, 2001 Converge Global Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CVRG CVRG Cardiovascular Research Group ) today announced that it has restructured and settled approximately $1,145,237 in debt, which, effectively, was the remaining of the outstanding liabilities of the company. Imran Husain, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Converge Global, stated: "We were very happy to have further restructured our finances with no dilution to our current shareholders. With the company virtually debt free and profitable, we feel we have created a unique environment to implement an aggressive acquisition strategy." Converge Global is an emerging Internet incubation incubation /in·cu·ba·tion/ (in?ku-ba´shun) 1. the provision of proper conditions for growth and development, as for bacterial or tissue cultures. 2. and services firm engaged in developing Internet companies that present exceptional global e-commerce opportunities. The company has the capacity to utilize an offshore delivery model to provide a full range of Internet services. This 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, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the development of the company's products and services and future operating results, including statements regarding the company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions identify forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurances that such expectations reflected in such forward-looking statements will prove to have been correct. Factors that could affect the company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. |
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