Beijing China / ACCESSWIRE / July 8, 2014 / Kenergy Scientific Inc (KNSC) http://www.knsc.info/ https://twitter.com/knsc2 (The Company), an innovative media marketing services company, is pleased to announce the Company's 2014 Semi Annual Report via this announcement.
A similar filing will be done on Form 10K with the Securities and Exchange Commission at the end of the quarter.
The Company brings attention to its previous news release of April 10, 2014.
The Company is pleased to report that all debts of KNSC have been settled except for the $750,000 line of credit provided to the company as per the filings Aug 13 2013 http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=94541
The Company settled its debts with a toxic financier “Asher” which the previous management agreement the previous management entered into. This was a road block on many merger candidates with KNSC. The debt was settled in stock with terms “penny on the dollar”
This Asher and all other toxic creditors’ settlement will increase the KNSC share structure by 2 billion shares TEMPORARILY. We say temporarily as the existing operating subsidiary Sparx Business Media has agreed to return 2 of the 3 billion shares back to treasury in exchange for preferred shares.
Item # 3 may require some legal intervention (well under way) as the ex-management Ken Glynn is attempting to thwart the Company efforts. The new management verily believes that this group is posting negative comments and has become KNSC harsh critic using various aliases.
Zoran Cvetojevic the Company CEO and Board member said "When we took KNSC over in 2013 we asked our followers for a 12 to 18 month time frame to do something to return values to KNSC. We are now in our 13th month and well ahead of the schedule. It is no secret that we are looking fir a merger candidate. This Asher toxic financing was a road block on every step of the way. Now with them gone and out we can get back to business. On our web site we will post a pdf powerpoint of a concrete company that was featured on TV show MSNBC. We are well under way with them to do a deal. In abundance of caution we are also discussing a possible merger with a China based manufacturing facility.
We really do not care if we are in a manufacturing business a media business or a concrete business as so long as our efforts can create a win win scenario and increase the Company valuation and bring value to our shareholder base.
At KNSC we believe that we have turned KNSC 180 degrees and that any one of the two aforementioned mergers and KNSC a debt free company with no toxic over hang will truly be a game changer."
More news will follow on a timely basis.
Find us on https://twitter.com/knsc2
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Kenergy Scientific, Inc.
SOURCE: Kenergy Scientific, Inc.