LAS VEGAS, NV / ACCESSWIRE / January 26, 2021 / Triad Pro Innovators (OTC PINK:TPII) ("TPII", or the "Company") has successfully completed a debt settlement transaction under Section 3(a)(10) of the Securities Act. Under the transaction, the Company was able to convert almost $270,000 of outstanding debt and accounts payable into shares of the Company's common stock. All remaining shares of the Company's common stock which had been reserved and not used for the transaction (68,184,135) have been returned to treasury. With the completion of the transaction and the elimination of the debt, TPII can now continue to move forward and focus on delivery of the SPREE golf cart, and the development of new products and grid storage solutions.
TPII will also now focus on raising additional capital to fund growth of the Company. One possible alternative is the proposed filing of a Regulation A offering with the SEC, which provides the capability for issuers to engage in general advertising and solicitation and allows accredited and non-accredited investors to participate. The proceeds derived from the Regulation A would be primarily deployed, to establish marketing programs; purchase inventory; and, provide the necessary working capital required to increase our existing manufacturing and assembly capabilities in order to deliver current and expected future purchase orders.
Contact:
John Randolph
(714) 790-3662
SOURCE: Triad Pro Innovators, Inc.