DNA Brands, Inc. (OTCMKTS:DNAX) has received a major boost on its push to clear its debt after receiving a Multi-Million dollar offer for its Energy Drink Line. The offer comes just weeks after the company entered into negotiations with its creditors as part of an effort that seeks to minimize outstanding debt and push for an acceptable debt payoff ratio.
Trimming Debt Load
When Adrian McKenzie took over as CEO, DNA brands six major creditors. The number has since been sliced to four as the company continues to explore ways to clear the debt. One of the creditors has already received stock, which satisfies his credit position. Focus now shifts to addressing the needs of the other creditors, especially with the new multi-million order.
“Once I have the debt written off the books, I can make my acquisitions almost immediately that would be great,” said Mr. McKenzie
In a recent conference call, the Chief executive confirmed that the company is currently in talks with three parties as part of an effort that seeks to bolster the company’s revenue stream. However, the executive maintains that they remain focused on transitioning DNA into a holding company with the acquisition of more revenue generating companies. The Letter of intent is however not with any of the parties the company is currently talking to.
Expanding Into Retail
The Multimillion offer positions DNA brands at a unique position where it will be able to sell the product line and in return use the funds to acquire more assets that should help steer it to new heights. The provider of energy drinks is also exploring ways of working with other revenue generating, self-sustaining business that should help bring on board more intellectual property and revenue.
Bringing DNA Brands, Inc. (OTCMKTS:DNAX) energy beverage into retail outlets shelves is also a core objective as part of an effort that seeks to bolster sales. McKenzie remains confident of being able to raise the much-needed cash to finance inventory.
Life Clips Inc (OTCMKTS:LCLP) Eyes NASDAQ Listing After S-1 Filling
Life Clips Inc (OTCMKTS:LCLP) was a big mover in the market after filing the S-1 Registration for the raising of up to $7.8 million needed for the listing on the NASDAQ. The stock was up by more than 10% helping affirm a bullish run in the recent past that has seen the stock trade close to its 52-week high.
Chief Executive Officer, Bob Gruder, is on record saying that they are working around the clock to raise the much-needed working capital needed to meet capital requirements for the listing on the NASDAQ. LCLP has already teamed up with a New York-based investment bank as part of an effort that seeks to accelerate the listing before the summer of 2017.
Life Clips Inc (OTCMKTS:LCLP) has also been active on the operations front, having inked a number of deals in the recent past that have the potential to bolster the company’s revenue stream. Pursuing growth opportunities on the global scene is also a core objective.