Fuelstream Remits Funds to Redeem Convertible Debenture
07 August 2013 - 1:00PM
Fuelstream, Inc. (OTCQB:FLST) ("Fuelstream" or the "Company")
announced today that it has wire transferred $124,600 to Peak One
Opportunity Fund, L.P. ("Peak One") to redeem the unpaid balance
and required premium of that certain convertible debenture issued
on February 1, 2013 to Peak One. The redemption is part of the
Company's ongoing efforts to deleverage and improve its balance
sheet. Peak One has disputed the Company's attempt to redeem
$11,000 of the principal amount of the debenture. The redemption,
once effected, will result in Peak One no longer holding any debt
securities of the Company.
Commenting on the redemption, Robert Catala, the Chief Executive
Officer of the company stated "The redemption of the Peak One
debenture represents a positive step forward in reducing the
Company`s liabilities, as well as potential overhang on the
Fuelstream stock price. We will continue to pursue additional ways
to restructure and reduce our debt obligations along with our
development of additional revenue opportunities to improve the
financial health of the Company going forward."
About Fuelstream
Fuelstream is an operating fuel logistics company that
concentrates its supply chain management efforts in the
distribution of aviation fuel to corporate, commercial, military,
and privately-owned aircraft throughout the world. Currently, a
majority of the Company's fuel and related services are
concentrated in the sourcing, purchase and delivery of (Jet-A) fuel
"into the wing" of private and commercial aircraft at various
airports. With offices in Sunrise, Florida and Johannesburg South
Africa, the Company intends to supply a variety of ground services
either directly or through its affiliates, including concierge
services, passenger and baggage handling, landing rights,
coordination with local aviation authorities, aircraft maintenance
services, catering, cabin cleaning, customs approvals, and
third-party invoice reconciliations. For more information please
visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements
regarding possible future circumstances. These forward-looking
statements are based upon the Company's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contemplated in such forward-looking statements including, in
particular, any risks and uncertainties with respect to the
Company's operations, as well as those contained in the Company's
quarterly, annual, and periodic filings with the Securities and
Exchange Commission. Actual results, events, and performance may
differ. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as to the date hereof.
The Company undertakes no obligation to release publicly any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. The inclusion of any
statement in this release does not constitute an admission by the
Company or any other person that the events or circumstances
described in such statements are material.
CONTACT: Investor Relations
(954) 423-5345
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