HOLIDAY ISLAND HOLDINGS ANNOUNCES $1.3 MILLION CANCELLATION OF CONVERTIBLE DEBT
July 09 2018 - 9:15AM
InvestorsHub NewsWire
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HOLIDAY ISLAND HOLDINGS ANNOUNCES $1.3
MILLION CANCELLATION OF CONVERTIBLE DEBT
Holiday Island,
Arkansas -- July 9, 2018 -- InvestorsHub NewsWire -- Holiday Island
Holdings, Inc. (OTCPink:
HIHI) - a development stage company
operating in the land development business released the news
today that they have decided to cancel approximately
$1.3 million of convertible debt.
The notes were issued
from May 2011 to May 2013 by our predecessor to an officer in lieu
of cash compensation for his services.
The debt consists of
$ 602,008 in original principal and
$ 708,547 in interest through June 30,
2018. The write off will be reflected in the Company’s
Q-2 2018 OTC Report.
Gene Thompson - CEO and
chief strategist of Holiday Island Holdings said, “We are pleased
to make this announcement as it immediately provides
significant equity to the Company’s balance sheet, and advances our
effort to cease debt conversion at some point”.
“The Company is in the
process of trying to raise equity capital to realize
its multi-million dollar acquisition plans of commercial
income producing real estate located in the Holiday Island Shopping
Center with the assistance of an Atlanta-based private
investment fund.
Holiday Island Holdings,
Inc. will keep both its shareholders and public completely informed
of the entire process as the details continue to develop.
Please watch for regular press releases about the Company’s
progress. For additional information, please visit the
Company’s website at www.holidayislandholdings.com.
About Holiday
Island Holdings, Inc. (OTCPink:
HIHI):
Holiday
Island Holdings, Inc. is operating in land development in
a continued effort to acquire and further develop income producing
commercial and residential real estate located in Holiday Island,
Arkansas. The company is in the process of further developing a
town poised to become the largest community between Northwest
Arkansas Metroplex and Branson, Missouri, and dominate local
retail, commercial, and residential markets.
Forward-Looking
Statements Disclaimer:
This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. In some cases, you
can identify forward-looking statements by the following words:
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "should," "will," "would," or the negative of these
terms or other comparable terminology, although not all
forward-looking statements contain these words. Forward-looking
statements are not a guarantee of future performance or results,
and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved.
Forward-looking statements are based on information available at
the time the statements are made and involve known and unknown
risks, uncertainty and other factors that may cause our results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by the
forward-looking statements in this press release. This press
release should be considered in light of all filings of the Company
that are contained in the Edgar Archives of the Securities and
Exchange Commission at www.sec.gov.
HIHI
Contact:
Gene Thompson,
CEO & Chairman
Phone: (479)
244-6047
Email: sgenethompson@gmail.com
Website: www.holidayislandholdings.com
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