MSGI Security Solutions, (MSGI) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : MSGI Security Solutions, (MSGI)

MSGI 0.0001000

0.0%

Mar 3 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Paul Lee	3/15/2010 10:48:22 AM
	of 26

MSGI To Retire $12 Million In Debt Eliminating Five Convertible Debt Instruments NEW YORK--(BUSINESS WIRE)--MSGI Security Solutions Inc. (OTCBB: MSGI - News) today reported that a Note Purchase and Sale Agreement was executed between Madison And Wall Investments, LLC. and the previous holders of all Convertible Notes from December 2006 and March 2009. The buyer will acquire all the notes valued at $10,250,000 plus $1.8 million in accrued interest. As a subsequent transaction, Madison and Wall Investments has agreed to convert the debt instruments into Preferred Stock of MSGI thus extinguishing the entire debt. They have further agreed not to trade the stock of MSGI before 12/31/10. Jeremy Barbera, Chairman and CEO of MSGI commented; “this represents a highly strategic move for MSGI in the Renewable Energy sector. In addition to dramatically improving our balance sheet by eliminating debt that has weighted down the company for the past four years, we are now forming a partnership with an affiliated group of Madison and Wall Investments that owns and controls extensive Solar Energy and Geothermal Energy assets in the United States. This week we will announce plans that detail the business combination between MSGI and the affiliates of Madison and Wall Investments. This New Renewable Energy platform will also become the commercialization vehicle for the NASA Solar Energy innovations currently under development at Ames Research Center in Mountain View, California”.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next