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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Remote Dynamics Inc (CE) | USOTC:RMTD | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 00:00:00 |
"We are pleased with the continued progress we have made reducing our Series A and Series B debt obligations," commented Gary Hallgren, CEO of Remote Dynamics. "As of December 31, 2008, our combined Series A and B Note balances totaled $10,780,336. We have made substantial progress in 2009 by reducing these debt balances by 28%. Year to date in 2009, we have issued 6,402,645,880 shares of common stock as partial principal payments on the Series A Notes in satisfaction of $924,112 of obligations due under the notes. Additionally, during the same period, we issued 3,255,173,554 shares of common stock as partial payments on the Series B Notes in satisfaction of $429,404 of obligations due under the notes.
"After consummating this conversion, we will have reduced our Series A and Series B Notes by $3,041,548 during 2009 leaving a remaining balance of Series A and B Notes totaling $7,738,788. We expect to issue additional shares of our common stock in payment of amounts due under the notes during the remainder of 2009 and thereafter."
About Remote Dynamics, Inc.: Remote Dynamics, Inc. markets, sells and supports a state-of-the-art asset tracking and fleet management solution that contributes to higher customer revenues, enhanced operator efficiency and improved cost control. Combining the technologies of the global positioning system (GPS) and wireless communications, the company's solution improves our customers' operating efficiencies through real-time status information, exception-based reporting, and historical analysis. The company is based in Plano, Texas. More information about Remote Dynamics is available online at www.remotedynamics.com.
CONTACT: Gary Hallgren CEO (214) 440-5202 www.remotedynamics.com
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