Advant-e Corporation Announces Debt Conversion
November 24 2003 - 8:08AM
PR Newswire (US)
Advant-e Corporation Announces Debt Conversion One Third of
Principle Convertible Debt Exchanged for Restricted Stock DAYTON,
Ohio, Nov. 24 /PRNewswire-FirstCall/ -- Advant-e Corporation
(BULLETIN BOARD: AVEE) , a provider of Internet-based
business-to-business electronic commerce services, today announced
that one of the largest investors in its 15% convertible debt has
opted to convert $250,000 into Advant-e common stock according to
the terms of the September 27, 2001 agreement at $1.06 per share.
Advant-e raised $775,000 with convertible debt offerings in 2001
and 2002 to facilitate development and marketing of its
Internet-based Business-to- Business electronic commerce services.
With the conversion of $250,000 into common stock and the previous
retirement of $25,000 in principle debt, the outstanding principle
balance of convertible debt is now $500,000. Jason K. Wadzinski,
President and CEO of Advant-e, stated, "We are pleased when
investors in our convertible debt decide to convert their debt into
common stock. We believe this decision is a huge vote of confidence
in us and may be based on our recent results and business plan
moving forward. We will strive to continue to improve our balance
sheet in 2004 and retire debt whenever possible." Advant-e
Corporation will be filing a registration statement on form SB-2
with the Securities and Exchange Commission to register all of the
shares associated with the Company's convertible debt and warrants
associated with the debt offering in the near future. About
Advant-e Corporation Advant-e, via its wholly owned and sole
operating subsidiary Edict Systems, Inc., is a provider of
Business-to-Business electronic commerce software and
Internet-based applications specializing in Electronic Data
Interchange (EDI) and XML-based solutions for recurring
transactions. Advant-e specializes in horizontal transaction
services via EnterpriseEC(R), an Internet-based Electronic Business
Transaction Network, and within specific vertical industries via
web-based "vortals" including http://www.groceryec.com/ ,
http://www.retailec.com/ , http://www.cpgsupplier.com/ ,
http://www.logisticsec.com/ , and http://www.mfgec.com/ . In
addition to Internet and web-based e-commerce solutions, Edict
Systems also provides e-commerce integration and bar coding
applications via its FORMULA_ONE(R) translation software and Bar
Code Label Modules. Additional information about Advant-e
Corporation can be found at http://www.advant-e.com/ and
http://www.edictsystems.com/ or by contacting investor relations at
(937) 429-4288. The company's email is . The information in this
news release includes certain forward looking statements that are
based upon assumptions that in the future may prove not to have
been accurate and are subject to significant risks and
uncertainties, including statements to the future financial
performance of the company. Although the company believes that the
expectations reflected in its forward looking statements are
reasonable, it can give no assurance that such expectations or any
of its forward-looking statements will prove to be correct. Factors
that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development and
acceptance, the impact of competitive services and pricing, or
general economic risks and uncertainties. DATASOURCE: Advant-e
Corporation CONTACT: Investor Relations of Advant-e Corporation,
+1-937-429-4288, or . Web site: http://www.advant-e.com/
http://www.edictsystems.com/
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