Hi Score Corporation Announces a Memorandum of Understanding with its Non Affiliated Debt Holders.
October 16 2013 - 10:00AM
OTC Markets
Hi Score Corporation Announces a
Memorandum of Understanding with its Non Affiliated Debt
Holders.
Oct
16, 2013
OTC Disclosure & News Service
ACCESSWIRE) 10/16/2013 7:00:00
AM - Hi Score Corporation. (OTC PINK: HSCO ) is pleased to
announce that
it has successfully concluded a memorandum of understanding with
its
Non-Affiliated Debt holders to convert the principal balance
remaining of their
outstanding notes into convertible preferred stock. The
understanding between
everyone is that these equity securities will be converted into
common once
aged, and form the backbone of a Registration Statement with the
SEC.
William White, the new CEO of
Hi Score Corporation states, "We are extremely pleased with the
progress
we have made. We have completed an acquisition, brought the
affiliated debt
down by retiring insider debt, and now put the wheels in motion to
bring our
non-affiliated debt down. Hi Score Corporation did not have
significant third
party debt on its balance sheet and neither does it have a lot of
non
affiliated debt holders. This makes it easier for Hi Score
Corporation to reach
an understanding with the small group we have, while meeting our
contractual
obligations. Our next objective is to complete a consolidated audit
so that we
can become an SEC reporting company. We are going to short list
some auditors,
and would expect to have a final decision soon on the PCAOB
auditing firm
assigned to complete this task. "
About Hi
Score Corporation:
Hi
Score
Corporation (HSCO.PK)
serves as the parent company
for Green LED Technology Inc. Hi Score is also the owner of the
EcoGreenBulb
Line of Compact Fluorescent Lamps and the REPCO Line of
Traditional
Lighting. It is the primary aim at Hi Score to show their
companies?
clients how to save energy and money by utilizing safe, efficient,
lighting.
Their companies provide cost effective alternatives to current
commercial use
of fluorescent and incandescent bulbs. In the next decade, everyone
(including
large and small businesses to towns, cities and homeowners) will be
called upon
to replace their current methods of lighting with more energy
efficient and
less toxic products. In August of 2012 the Company resolved to
explore
acquisition of other profitable private companies in the Energy
Saving
Lighting. In October of 2012 the company expanded its exploration
horizons to
include opportunities with companies in any space provided the deal
makes
fiscal sense and shows potential of growth.
Safe Harbor Statement:
This release includes "forward-looking statements" within the
meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E and
or 27E of the Securities Exchange Act of 1934 that are based upon
assumptions
that in the future may prove not to have been accurate and are
subject to
significant risks and uncertainties, including statements as to the
future
performance of the company and the risks and uncertainties detailed
from time
to time in reports filed by the company with the Securities and
Exchange
Commission. Statements contained in this release that are not
historical facts
may be deemed to be forward-looking statements. Investors are
cautioned that
forward-looking statements are inherently uncertain. Although the
company
believes that the expectations reflected in its forward-looking
statements are
reasonable, it can give no assurance that such expectations or any
of its forward-looking
statements will prove to be correct. Factors that could cause
results to differ
include, but are not limited to, the company's ability to raise
necessary
financing, retention of key personnel, timely delivery of inventory
from the
company's contract manufacturers, timely product development,
product
acceptance, and the impact of competitive services and products, in
addition to
general economic risks and uncertainties.
Company Contact Information:
Mr. William White, Chief Executive
Officer
Harvardtrust@execs.com
or
info@greenledsolutions.com
www.hiscorecorporation.com
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