There is a plan by Dominovas Energy Corp (OTCMKTS:DNRG) to restructure to remove the Company’s approximately $700,000 in convertible debt. The company will likely take control of the funds stemming from its financing agreement with GHS Investments, LLC. The agreement has already been approved by the U.S. Securities and Exchange Commission. DNRG will also probably initiate talks with its convertible debt financing partners seeking to be allowed to settle up convertible notes with cash instead of shares. Considerations of a long-term equity funding strategy may also come into play which is not a convertible debt structure but only if GHS Investments ascertains.
Dominovas Energy COO Michael Watkins says that it took a lot of time and effort to realize that the existing convertible debt was the cause of the too much anxiety on the stock. The company is one of the most prolific companies within the fuel industry. Watkins explains that DNRG has some of the best-in-class strategic partners, contracts orders for multiple-Megawatts (MW) from left, right and center hence the convertible debt is an issue that needs to be addressed the soonest.
About Dominovas Energy and its change of strategies
DNRG has a firm grip on the fuel industry. In the recent past, it has been driving huge business not until the existing convertible debt started hitting on its stock price. However, the company is committed to making a turnaround for the sake of its shareholders. According to Watkins, the company is changing its financing and operational methods with an aim of increasing clarity and providing a stronger reporting mechanism.
The company which was founded in 2005 has a thriving presentation of the 50kW ‘Showcase’ set whose installation in Johannesburg and South Africa is set for August. This alone illustrates that the company is on its way into the deployment of its multi-Megawatts units in sub-Saharan Africa. Besides DNRG has this firm conviction of advancing in technology at every given opportunity. It is inspiring to support growth and improvement of the communities and countries in which it operates.
Progressive Care Inc (OTCMKTS:RXMD) Issues Update on Building Permits and $250,000 Financing
Progressive Care has issued an update on the status of building permits it has applied so far. The south Florida health services say it has cleared all the requirements on its building permit applications in the County of Miami-Dade. Focus now shifts to the final approval process with a verdict expected in the coming days.
The company has also stated that it has received $250,000 from Venture Partners as part of a $2 million financing agreement agreed. Progressive Care Inc (OTCMKTS:RXMD) plans to use the amount for the construction of a warehouse space as well as for general working capital in ongoing activities.