Flemington, NJ, Jul 12, 2013 - (eTeligis via Accesswire) - Kenergy Scientific, Inc. (OTCQB: KNSC) www.knsc.info Further to recent filings (8k) of July 5, 2013 and previous notices filed, the new KNSC management is using this opportunity to update its followers on all of the corporate events.
1. The new management was successful in stopping potently 4 debt conversion which would of added about 900 million shares to the already bloated share structure.
2. Our share structure remains unchanged and undisturbed at:
-Shares Outstanding 6,517,475,719 a/o Jun 28, 2013
-Float 3,017,475,719 a/o Jul 03, 2013
-Authorized Shares 10,000,000,000 a/o Jun 25, 2013
3. No further dilution of any sort is expected or foreseen.
4. The new management is in the process of resolving its differences with the transfer agent. It is of the opinion that an amicable solution will be reached shortly.
5. The new management has made great strides in reaching out to existing debt holders. For example, one of the biggest creditors (almost $2 million) is receptive to a settlement at a fraction of the face amount. Further arrangements are being perused.
6. Other creditors are being approached on a one by one basis and are being offered other considerations, options and similar in exchange for their debt. The management remains highly optimistic in its objectives.
7. All of these aforementioned positive strides pave the way for the KNSC management to pursue asset and or merger plans as previously announced and or filed.
The company continues with its aspirations to become a fully transparent entity and to better communicate with its shareholders and followers. It has been brought to the company’s attention that the that there are blog or chat board type web sites containing old outdated and misinformation about the company and its business model. To that end the company has launched a new web site www.knsc.info. This web site also contains a “TOWN HALL” section which will allow the company to post updates of its progress and items that are not news worthy however may be of interest to our followers. Additional info can be found of the company affairs at https://twitter.com/knsc2.
More updates will follow frequently and on a timely basis.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kenergy Scientific, Inc.
Investor Relations
mair@360-office.com
SOURCE: Kenergy Scientific, Inc.