ISBG Announces Repurchase of $50k in Outstanding Debt with Cash Derived from Profitable Q1
30 May 2018 - 1:29PM
InvestorsHub NewsWire
Las Vegas, NV -- May 30, 2018 -- InvestorsHub NewsWire --
International Spirits and Beverage Group Inc. (OTCPK:ISBG) (“ISBG”
or the “Company”), a Nevada Corporation, is proud to announce that,
with the conclusion of the Company’s profitable quarter ended March
31, 2018, ISBG has deployed a portion of those profits to
repurchase and retire $50k of outstanding Company debt.
“As we build accelerating momentum on the bottom line, we will
continue to use excess free cash from operations to aggressively
firm up our balance sheet and send an unwavering message to the
marketplace about the positive trajectory and strength of our share
structure going forward,” stated ISBG President and Chairman,
Alonzo Pierce.
The move follows a reduction in convertible debt and a balance
sheet positive refinancing already conducted by the Company over
recent months. This latest reduction to total outstanding
liabilities will be reflected in the Company’s next financial
report filing.
Management feels the Company has earned the opportunity to be
proactive with its balance sheet as a consequence of its recent
successes, including the completion of its audit and application to
uplist to the OTCQB Venture Exchange, the execution of a profitable
Q1 in the books to start the year, an acceleration in financial
performance following the acquisition and integration of RWB Vodka,
and the recent expansion of the Company’s sales footprint into the
Chinese market for its Besado brand.
Mr. Pierce continued, “This move signals to our shareholders and
to the market that we understand our responsibility as an
organization and as a steward of invested capital. That message has
a huge implied payoff for everyone involved because it demonstrates
that we have enough organic momentum at this point to determine our
own destiny, which is key right now because we have some very big
things on tap.”
About ISBG: ISBG is a Nevada-based alcoholic beverage company
specializing in the development, marketing and global sales of
innovative wine and spirits brands. The Company's expertise lies in
the strategic development and aggressive early growth of its brands
and establishing these brands as viable and profitable. ISBG
intends to build its own brands while seeking out individual
acquisition candidates to continue to develop its pipeline of new
brands into the ISBG portfolio. For more information visit:
www.isbg.global
Forward Looking Statements: This press release may contain
forward-looking statements that involve risks and uncertainties.
These statements relate to future events or our future financial
performance. In some cases, you can identify forward-looking
statements by terminology including "could", "may", "will",
"should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential" and the negative of these terms or other
comparable terminology. While these forward-looking statements, and
any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our
business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections,
assumptions or other future performance suggested in this report.
Except as required by applicable law, we do not intend to update
any of the forward-looking statements so as to conform these
statements to actual results. Investors should refer to the risks
disclosed in the Company's reports filed from time to time with OTC
Markets (www.otcmarkets.com).
Contact:
For Additional Investor Information: International Spirit & Beverage Group, Inc. info@isbg.global