GAINCLIENTS, INC (GCLT) Retiring of Convertible Debt Leads to Stronger Balance Sheet, and Growing Cash Reserves albuquerqueexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albuquerqueexpress.com Daily Mail and Mail on Sunday newspapers.
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TUCSON, AZ / ACCESSWIRE / December 23, 2020 / GainClients, Inc. (OTC PINK:GCLT) ( GainClients or the Company ), a provider of technology solutions for the real estate industry, has announced that in late 2018, it began retiring outstanding debenture debt totaling $354,170.08.
The Company is reporting today that it has reduced its convertible debenture debt by 30% including accrued interest and eliminated all its credit card debt by April 23, 2020. Retirement of a third of our convertible debentures represents an important milestone in the continual improvement of the Company s balance sheet, as we work to bring the Company s financial reporting current, commented Ray Desmond, President and CEO. The convertible debenture provision provided us with the required financing to focus on new software development, which will increase revenue and contribute to a stronger financial position with growing cash reserves.
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