Accredited Solutions Finalizes Balance Sheet Restructuring, to Record $3.1 Million One-Time Income Event Following Successful Closing of Exchange Agreements with Debt Holders
Accredited Solutions (OTC: ASII) has successfully restructured its balance sheet, resulting in a $3.1 million one-time income event. The company, parent of Diamond Creek Water, executed Debt Exchange Agreements with all outstanding convertible debt holders, converting their debt into a new series of convertible preferred stock. This strategic move has significantly improved ASII's financial position, increasing Net Shareholder Equity by approximately $5 million, from -$5,073,037 to -$45,576. The figures are preliminary and subject to year-end audit adjustment.
CEO Eduardo Brito emphasized that this restructuring is the first of many strategic steps in ASII's turnaround phase. The company remains focused on enhancing shareholder value and building a foundation for future growth, with more updates expected soon.
Accredited Solutions (OTC: ASII) ha ristrutturato con successo il proprio bilancio, portando a un evento di reddito una tantum di $3,1 milioni. L'azienda, madre di Diamond Creek Water, ha eseguito Accordi di Scambio del Debito con tutti i detentori di debito convertibile in essere, convertendo il loro debito in una nuova serie di azioni privilegiate convertibili. Questa mossa strategica ha migliorato significativamente la posizione finanziaria di ASII, aumentando il capitale netto degli azionisti di circa $5 milioni, da -$5.073.037 a -$45.576. I dati sono preliminari e soggetti a eventuali aggiustamenti in fase di revisione di fine anno.
Il CEO Eduardo Brito ha sottolineato che questa ristrutturazione è il primo di molti passi strategici nella fase di rilancio di ASII. L'azienda rimane concentrata sull'aumento del valore per gli azionisti e sulla costruzione di una base per la crescita futura, con ulteriori aggiornamenti previsti a breve.
Accredited Solutions (OTC: ASII) ha reestructurado con éxito su balance, resultando en un evento de ingresos único de $3.1 millones. La empresa, matriz de Diamond Creek Water, ejecutó Acuerdos de Intercambio de Deuda con todos los tenedores de deuda convertible pendiente, convirtiendo su deuda en una nueva serie de acciones preferentes convertibles. Este movimiento estratégico ha mejorado significativamente la posición financiera de ASII, aumentando el patrimonio neto de los accionistas en aproximadamente $5 millones, de -$5,073,037 a -$45,576. Las cifras son preliminares y están sujetas a ajustes de auditoría de fin de año.
El CEO Eduardo Brito enfatizó que esta reestructuración es el primer paso de muchos en la fase de recuperación de ASII. La empresa sigue enfocada en mejorar el valor para los accionistas y construir una base para el crecimiento futuro, con más actualizaciones esperadas pronto.
Accredited Solutions (OTC: ASII)는 재무제표를 성공적으로 재구성하여 310만 달러의 일회성 수익 이벤트를 달성했습니다. 이 회사는 Diamond Creek Water의 모회사로, 모든 미상환 전환 채권 보유자와 채무 교환 계약을 체결하여 그들의 채무를 새로운 시리즈의 전환 우선주로 전환했습니다. 이 전략적 조치는 ASII의 재무 상태를 크게 개선하여 주주 자본이 약 500만 달러 증가하여 -$5,073,037에서 -$45,576로 변동했습니다. 수치는 초기 데이터이며 연말 감사 조정에 따라 변경될 수 있습니다.
CEO 에두아르도 브리토는 이번 재구성이 ASII의 전환 단계에서 많은 전략적 조치 중 첫 번째라고 강조했습니다. 이 회사는 주주 가치를 향상시키고 미래 성장을 위한 기반을 구축하는 데 집중하고 있으며, 조만간 추가 업데이트가 있을 예정입니다.
Accredited Solutions (OTC: ASII) a réussi à restructurer son bilan, aboutissant à un événement de revenu unique de 3,1 millions de dollars. L'entreprise, mère de Diamond Creek Water, a exécuté des accords d'échange de dettes avec tous les détenteurs de dettes convertibles en circulation, convertissant leur dette en une nouvelle série d'actions privilégiées convertibles. Ce mouvement stratégique a considérablement amélioré la position financière de ASII, augmentant l'équité nette des actionnaires d'environ 5 millions de dollars, passant de -5 073 037 $ à -45 576 $. Les chiffres sont préliminaires et peuvent être sujets à des ajustements lors de l'audit de fin d'année.
Le PDG Eduardo Brito a souligné que cette restructuration est la première d'une série de mesures stratégiques dans la phase de redressement de ASII. L'entreprise reste concentrée sur l'amélioration de la valeur pour les actionnaires et la construction d'une base pour la croissance future, avec plus de mises à jour attendues prochainement.
Accredited Solutions (OTC: ASII) hat erfolgreich seine Bilanz umstrukturiert, was zu einem einmaligen Einkommensereignis von 3,1 Millionen US-Dollar führte. Das Unternehmen, Muttergesellschaft von Diamond Creek Water, hat Schuldentauschvereinbarungen mit allen ausstehenden Inhabern von wandelbaren Schuldtiteln abgeschlossen, wodurch ihre Schulden in eine neue Serie von wandelbaren Vorzugsaktien umgewandelt wurden. Dieser strategische Schritt hat die finanzielle Lage von ASII erheblich verbessert und das Eigenkapital der Aktionäre um etwa 5 Millionen US-Dollar erhöht, von -5.073.037 US-Dollar auf -45.576 US-Dollar. Die Zahlen sind vorläufig und können Anpassungen durch die Jahresabschlussprüfung unterliegen.
CEO Eduardo Brito betonte, dass diese Umstrukturierung der erste von vielen strategischen Schritten in der Wendephase von ASII sei. Das Unternehmen bleibt darauf konzentriert, den Wert für die Aktionäre zu steigern und eine Grundlage für zukünftiges Wachstum zu schaffen, mit weiteren Aktualisierungen, die bald erwartet werden.
- One-time income event of $3.1 million from balance sheet restructuring
- Net Shareholder Equity improved by approximately $5 million
- 100% of convertible debt holders agreed to exchange agreements
- Conversion of debt to preferred stock strengthens financial position
- Net Shareholder Equity remains negative at -$45,576
- Financial figures are preliminary and subject to year-end audit adjustment
NEW YORK, NY, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Accredited Solutions, Inc. (OTC: ASII) ("Accredited Solutions" or the "Company"), the parent company of Diamond Creek Water, a leading brand of ionized alkaline bottled water distributed across major grocery and convenience store chains, has reported balance sheet restructuring agreements leading to recognition of a one-time income event of approximately
This strategic move has substantially improved the Company’s financial position, increasing Net Shareholder Equity from approximately -
"This achievement is a testament to the strong collaboration between our investors and management as we embark on this critical turnaround phase," said the Company's CEO, Mr. Eduardo Brito. "This is just the first of many strategic steps we are taking to transform ASII into a world-class company. We remain committed to executing our plan and will keep our shareholders informed of our progress every step of the way."
Accredited Solutions continues to focus on enhancing shareholder value and building a robust foundation for future growth, with further updates anticipated in the near future.
More detailed information concerning the Company’s balance sheet restructuring is available in the Company’s Current Report on Form 8-K filed August 12, 2024.
Relevant Links:
https://www.diamondcreekwater.com
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
Accredited Solutions, Inc. Contact:
contact information:
info@diamondcreekwater.com
Follow Us on:
X (Twitter): @asii_Inc
Source:
Accredited Solutions, Inc.
https://www.diamondcreekwater.com
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