NRP Stone, Inc. Announces Preliminary Restructuring of its Corporate Debt in Preparation for Initial Funding

Rhea-AI Summary

NRP Stone, Inc. (OTC:NRPI) has announced a preliminary restructuring of its corporate debt to facilitate initial funding. The company has converted a series of 8% one-year notes into a single 0% interest note due in December 2023, reducing current and future liabilities. CEO Josh Hanes stated this positions the company favorably for capital investments, as they have achieved preliminary objectives in earth-space commerce. NRP Stone aims to create a viable low Earth orbit economy in 2022, enhancing shareholder confidence through expanded products and services.

Positive

• Restructured debt reduces liabilities significantly.
• 0% interest on new single note allows operational growth.
• Completion of preliminary objectives boosts investment appeal.
• Plans to create a viable space economy enhance future prospects.

Negative

• None.

PARK CITY, UT / ACCESSWIRE / November 17, 2021 / NRP Stone, Inc. (OTC:NRPI) is pleased to announce a preliminary restructuring of its corporate debt in preparation for initial funding. Josh Hanes, CEO of NRP Stone, observed, "We have accomplished our preliminary objectives of initiating earth-space commerce and have prepared the company to become a desirable candidate for first-round funding." The company recently renegotiated its debt structure with David Clark, a shareholder and note holder, from a series of 8% one-year notes into one single note for the original principle owed. The new note is due December 2023 at 0% interest giving the company time to grow its operations. This forgiveness of interest and the extension of the balance owed reduces the company's liabilities currently and in the future.

This debt restructure, together with management's success in accomplishing its preliminary objectives and strategic plans for achieving its next objectives, creates an attractive situation for direct capital investments. Mr. Hanes continued, "We proved we could accomplish our initial objectives and are now ready to move into the next phase of creating a viable space economy in low Earth orbit in 2022." Successfully securing first-round funding will position the company to launch into its next phase of operations, increasing shareholder confidence by expanding Uplift's current and future products and services.

ABOUT UPLIFT AEROSPACE

Uplift Aerospace is an emerging leader in transforming the space industry, pioneering innovative systems for space commerce, mediums of trade, and delivery of earth and space products. Uplift continues its research and development of lunar mining and processing methods for future manufacturing and supplying of off-planet infrastructure and building materials. Uplift Aerospace is a subsidiary of NRP Stone, a publicly traded company on the OTC under the symbol NRPI.

For more information, visit https://www.upliftaerospace.com/investors.

MEDIA CONTACT:

press@upliftaerospace.com
US OTC Symbol: NRPI; CUSIP: 62940J200.

For the latest updates, visit upliftaerospace.com and follow @upliftaerospace on Facebook, Instagram, and Twitter.

Disclosures and Caution Concerning Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, economic and market factors, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company, its management, or affiliates, undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE: NRP Stone, Inc.

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FAQ

What recent development did NRP Stone (NRPI) announce?

NRP Stone announced a preliminary restructuring of its corporate debt to prepare for initial funding.

How has NRP Stone (NRPI) restructured its debt?

NRP Stone has converted existing 8% one-year notes into a single note with 0% interest due in December 2023.

What are NRP Stone's future plans following the debt restructuring?

The company aims to create a viable space economy in low Earth orbit in 2022.

How does the debt restructuring affect NRP Stone's (NRPI) financial position?

The restructuring reduces current and future liabilities, allowing for operational growth.

What is NRP Stone's (NRPI) goal for shareholder confidence?

The company aims to enhance shareholder confidence by expanding current and future products and services.