Insight Management Corporation (PINK: ISIM), a development stage company focusing on merger and acquisition of revenue generating companies either producing or engaging in clean alternative energy projects, today, said that it has begun debt restructuring activity. The announcement has sent ISIM shares sharply higher in trading today.
ISIM shares are currently trading 125% higher at $0.0027 on above average volume of 110.50 million.
ISIM shares surged after the company said that it has negotiated cancellation and forgiveness of approximately $3.885 million in promissory notes and convertible promissory notes.
Kevin Jasper, President and CEO of Insight Management, said that the significant reduction in debt, especially the Convertible Promissory Notes, is the result of an aggressive effort on the part of the management, legal and the Board of Directors to improve ISIM’s ability to meet its strategic goals of identifying the acquisition of revenue generating companies that show growth potential and profitability with a strong management team in place.
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