NEWS: Company Retires All Long and Short Term Payables
BOSTON--(BUSINESS WIRE)--Sept. 27, 2000--Infotopia, Inc. (IFTP) announced today that as a result of its increasing share price, since August 1, 2000 the Company has been able to rise through equity placements with JB Marc and Associates, Oxford Capital, Thomson Kernaghan and others in excess of $3,000,000 in new capital for Infotopia, Inc. Infotopia has utilized these proceeds to retire 100% of its long and short-term debt. The balance has been utilized to purchase additional Torso Tiger inventory and provide additional working capital for the Company. The above changes to the Balance Sheet have positioned the Company to be able to provide many opportunities for additional products and investments.
Daniel Hoyng, CEO states, "The success of the Torso Tiger has afforded Infotopia, Inc. to take drastic steps to stabilize its balance sheet and cash flows. Our stabilized financial situations will allow Infotopia a greater opportunity to bring in additional projects. These projects will continue to spur explosive growth in our revenues and profits in the coming quarters. The steps being taken by the Company will continue to drive us to our objective of being listed on one of the National Stock Exchanges." The Company's mission is to produce, market, and distribute an expanding line of high-quality, innovative health, fitness and consumer products. Infotopia is modeling its business after Direct Focus (NASDAQ:DFXI). Infotopia seeks out products that deliver superior value, outstanding quality, and competitive prices to best satisfy customer demand. The Company markets its products to consumers through a variety marketing channels, including infomercials, distributor alliances, and Internet e-commerce. The management at Infotopia is committed to increasing corporate revenues and profits. The Company's website is located at: infotopia.com
This news release includes "forward-looking statements" that include risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market products and/or services and other risks detailed from time to time in their Company's reports filed with the Securities Exchange Commission.
CONTACT: Infotopia, Inc.
508-884-9900 |
