A Service For Professionals Friday, August 18, 2017
Contact (202) 540-8337

Company News Today

A Service For Professionals Friday, August 18, 2017 11424 Sources 398,822,278 Articles 3,328,029 Readers
Contact (202) 540-8337

Alt Energy Business: DayStar To Extinguish $1 Mil Of Debts

October 25, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — DayStar Technologies, Inc. (NASDAQ: DSTI), a developer of solar photovoltaic products, said it has inked agreements to extinguish around $1 million in outstanding debts.

According to DayStar, Socius CG II, Ltd. has entered into agreements with fourteen of DayStar's vendors pursuant to which Socius purchased around $1 million of the aggregate amount of debt, and then settled the resulting amounts owed in exchange for free-trading shares of DayStar's common stock.  

According to the company, the debts extinguished in this transaction will initially be settled in exchange for around 325,000 free-trading shares of DayStar's common stock, subject to final adjustment.

The initial number of shares to be issued to Socius will be adjusted on the 21st trading day following the date on which the initial shares were first issued based on a 25 percent discount to the volume weighted average price of DayStar's common stock over the 20-day period.

In no event will the aggregate number of shares of common stock issued to Socius exceed 9.99% of the total number of shares of the company's common stock outstanding.  

California-based DayStar Technologies is a developer of solar photovoltaic products based on CIGS thin-film deposition technology.

=========

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [altrntvtnr] [nrgyygrn] [grrnnwsnr] [fnncngj] [ftrdnwswnd] [nvstnggts] [ctvstsvtc] [bsnnssb] [dvcmntnmc]

Powered by EIN Presswire