CORRECTION: Hi Score Corporation Announces Plan to Assign, from a Secured Non Affiliated Note Holder, a Nominal Amount of Deb...
October 22 2013 - 12:16PM
OTC Markets
Hi Score Corporation Announces Plan to Assign, from aSecured Non
Affiliated Note Holder, a Nominal Amount of Debt in Alaska
EnergyCorporation.
Oct 22,2013
OTC Disclosure & NewsService
ACCESSWIRE) 10/22/2013
1:00:00PM - Hi ScoreCorporation. (OTC PINK: HSCO)
is pleased to announce that it has concludeda Memorandum of
Understanding with an undisclosed cash Note Holder in AlaskaEnergy
Corporation to purchase and assign a nominal amount of
theirDebt. Hi Score Corporation will purchase part of
this matured,secured debt because of its conversion privileges.
Once Hi Score Corporationhas acquired the matured & secured non
affiliated debt in Alaska EnergyCorporation, it will seek to
convert that debt into common shares, which it cansell or book as
equity on its own balance sheet.
William White, CEO of Hi ScoreCorporation, states, "This is the
first of many investment activities thatHi Score Corporation will
be pursuing, with other issuers. The brilliance ofthis strategy is
all affected parties in the transaction come out as winners.The
Note holder who has held the debt for over a year, is able to get
some cashin his hands, the public company, where the debt
originated, is able to removeor lower the debt on their balance
sheet, and we are able to book theinvestment as a note receivable
on our balance sheet, or as equity on ourbalance sheet, should we
exercise the conversion privileges. "
A Company Spokesperson, furtheradded,?Debt is the single largest
impediment to the success of the Micro CapMarkets. There is a real
opportunity, for Hi Score Corporation, to work withother Issuers,
to help them restructure their companies, through the issuanceof
Convertible Preferred Stock. We can also buy or assign nominal
amounts ofaged secured non affiliate debt which benefits all
parties. This willcompliment Hi Score Corporation's business
objectives very nicely as we seek toacquire other green
technologies and get our products to market. "
About
HiScore Corporation:
Hi Score Corporation (HSCO.PK)serves
as the parent company for Green LED Technology Inc. Hi Score is
also theowner of the EcoGreenBulb Line of Compact Fluorescent Lamps
and the REPCO Lineof Traditional Lighting. For these three
companies the primary aim at HiScore is to show their clients how
to save energy and money by utilizing safe,efficient, lighting. To
find out more information about these Companies pleasevisit our
website at
www.hiscorecorporation.com.To
further pursue and support the Company?s desire for diversification
withinthe green energy marketplace, in October of 2013 the Company
acquired NextDimension Marketing Inc. (NDMI), a U.S. assembler
& exclusive distributorof hydrogen converters; specifically
including the PerformanceEnhancement
and Emissions Control Hydrogen (PEECH) System.
To find out more about NDMI and the PEECH Systemplease visit their
website at
www.ndmarketinginc.com.
SafeHarbor Statement:
This release includes"forward-looking statements" within the
meaning of Section 27A of theSecurities Act of 1933, as amended,
and Section 21E and or 27E of theSecurities Exchange Act of 1934
that are based upon assumptions that in thefuture may prove not to
have been accurate and are subject to significant risksand
uncertainties, including statements as to the future performance of
thecompany and the risks and uncertainties detailed from time to
time in reportsfiled by the company with the Securities and
Exchange Commission. Statementscontained in this release that are
not historical facts may be deemed to beforward-looking statements.
Investors are cautioned that forward-lookingstatements are
inherently uncertain. Although the company believes that
theexpectations reflected in its forward-looking statements are
reasonable, it cangive no assurance that such expectations or any
of its forward-lookingstatements will prove to be correct. Factors
that could cause results to differinclude, but are not limited to,
the company's ability to raise necessaryfinancing, retention of key
personnel, timely delivery of inventory from thecompany's contract
manufacturers, timely product development, productacceptance, and
the impact of competitive services and products, in addition
togeneral economic risks and uncertainties.
CompanyContact Information:
Mr. William White, ChiefExecutive Officer
Harvardtrust@execs.com or info@greenledsolutions.com or bill@ndmarketinginc.com
www.hiscorecorporation.com
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