Diabetic Treatment Centers of America Announces Debt Conversion Agreement.SALT LAKE CITY -- Diabetic Treatment Centers of America Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DBTC DBTC Don Bosco Technical College (established 1953; Mandaluyong, Philippines) DBTC Delaware Building Trades Council ), announced today the agreement to convert its long-term debt into the company's common stock. "This is an important step in preparing our company for future expansion and potential acquisitions. We expect to have the documents in place no later than March 15, 2005, and once executed, our company will have no long-term debt. The debt will be converted into common stock of the company at $0.80 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. per share and will be restricted securities," said Arden Oliphant, 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 Diabetic Treatment Centers of America Inc. "Although our stock price has declined as of late, our ability to convert this debt at $0.80 per share exhibits confidence in our long-term plan," continued Oliphant. About Diabetic Treatment Centers of America Based in Salt Lake City, DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). of America is dedicated to providing effective medical therapies to diabetics that will significantly improve their health and well-being. Safe Harbor Statement This news release may include forward-looking statements within the meaning of Section 27a of the United States Securities Act of 1933, as amended, and Section 21e of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States 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 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. |
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