LAS VEGAS, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Alkame Holdings, Inc. (OTC PINK: ALKM), a publicly traded diversified holding company, is pleased to announce that the Company is in the process of strengthening its balance sheet by reducing and eliminating additional debt, thereby increasing equity and shareholder value, along with lessening potential future share count.
The company has recently announced the cancellation of approximately $200,000 in debt from the company’s books and now is in negotiations to convert $800,000 of debt with the Company's largest debtholder. Alkame has drawn down $800,000 out of its current $1 Million line of credit. Our goal is to eliminate the $800,000 of debt and convert it into $800,000 of a Preferred stock. This outstanding debt reduction would represent an additional large amount of corporate debt.
"We continue to strengthen our balance sheet and increase shareholder value,” Alkame CEO Robert Eakle commented. “We are committed to growing this company and adding value to our shareholder base as evidenced by our recent debt reduction and our current discussions for additional decreases. We are extremely excited that discussions are going well on the removal of the entirety of this debt off the Company books.”
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded diversified holding company. The Company's wholly owned subsidiaries include proprietary water technology with several unique properties, food and beverage manufacturing and co-packing, CBD /Hemp food and beverage manufacturing, and utilizes their enhanced water technology whenever applicable, along with several company owned developed and acquired consumer brands. The organization is diligently building a strong foundation through the launch and acquisition of appropriate business assets, and by pursuing multiple applications by placement into several emerging business sectors, such as consumer bottled water and RTD products, household pet products, and many other various water-based treatment solutions to both new and existing business platforms. For more information, visit www.alkameholdingsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.