HDS International Corp (OTCMKTS:HDSI) a pioneer technology firm informed that it came on terms with an institutional investor to grant financing ( up to $4.6 million) through equity and debt. The Company has finalized term sheets for unsecured debt, debentures and also preferred equity from three entities. It negotiated the re-transfer of certain convertible “Notes” that were initially granted to a New York-based asset entity. The re-transfer of the “Notes” is to be concluded with the understanding that, in the future the conversion will be managed in such a way that will be within the interests of the company and its valuable shareholders.
The shares held in reserve for the ‘Notes’ have been over, and HDS will require to set aside extra shares for these “Notes” once the retransfer is done. The team is of view that via shares already granted to SirenGPS, the non-affiliates and previous management that company has more than enough shares to guarantee for new capital without needing a increase in authorized shares or going for a reverse stock split process.
HDS International Corp (OTCMKTS:HDSI) associated with its dedicated investment banking firm Source Capital Group, Inc. to discuss the financing alternatives. The CEO Paul Rauner said that he is thrilled that investment banking unit was able to execute on terms for the Company. The unit has done a brilliant job working on the financing needs that will open new sources for further development.
HDS International Strategic Expansion agreement was the first initiative taken towards a phased market launch of SirenGPS. It was able to complete the mutual agreement for the new management of the company. Moving forward, the second objective is to induce the working capital so that the company can achieve its planned objectives. The capital is mandatory to ensure an exclusive license to SirenGPS in the firm. In last trading session, the stock price of HDS International closed in red at $0.00100.