PHILADELPHIA, May 8, 2017 /PRNewswire/ -- Ems Find, Inc. (OTCQB: EMSF), a wholly owned subsidiary of Paradigm Group, the developer of an innovative mobile and web based platform primarily in e-commerce, health care and transportation sectors, today announced that the Company has converted all of its outstanding Vendor Liabilities into Equity and eliminated the majority of its outstanding Convertible Debt in an effort to improve its Balance Sheet amidst an effort to streamline its business and operating conditions.
The Company intends to focus on launching its transportation platform in partnership with EpicMD, and the strengthening of the Balance Sheet as it continues to negotiate with potential acquisition targets.
For the past few months, the Company has retired approximately $47,000 (unaudited results) of the Vendor Payables and fully retired or received legal commitments to retire over $375,000 (unaudited results) of its aged Convertible Notes. The Company is currently working on retiring the remaining Notes and anticipates an announcement within the next four weeks.
Due to the elimination of the majority of the Company's Convertible Debt as well as receiving over $50,000 in cash proceeds resulting from conversion of Accounts Payable Item (Convertible Debt Note owed by another Public Company), the Company is pleased to report a Balance Sheet related benefit in an estimated amount of $472,000 (unaudited results), thus significantly improving its Capitalization Table and Balance Sheet, and solidifying its Cash Position.
The Company is committed to growing its assets, while evaluating the pipeline of the potential accretive acquisitions for its operations. "Over the past four months, we reduced the debt exposure on our Balance Sheet by accessing more cost-effective and less dilutive capital sources to finance the business operations," noted Steve Rubakh, the Company's CEO. "Finally, we have a manageable Balance Sheet exposure, supported by key strategic lending partners with whom the Company is negotiating a significant equity financing round."
The Company remains committed to streamlining its financing and operations as well as growth opportunities, and looks forward to providing timely updates to shareholders as they become available.
About Paradigm Group, Inc (PG) - Diversified holding company that acquires, invests and operates revenue generating companies (subsidiaries), primarily in the healthcare, e-commerce, mobile technologies, transportation and consumer goods markets that have a seasoned management team, solid operating histories, minimum debt, high growth potential and tangible assets, designed to mitigate investor risk. PG is focused on implementing unique business strategies, creating liquidity through asset based infrastructure, supporting and improving operations, infusing an additional growth capital, maintaining and expanding a market presence in their niche sectors, while constantly enhancing this process by a multitude of initiatives.
About Ems Find - Industry's first, on-demand medical transportation platform, that connects health care providers and consumers with the closest medical transportation providers for the benefit of the patients. The platform enables healthcare providers and patients to schedule medical transportation in a timely and efficient manner, based on the type of medical transportation which best fits each patient's needs. The platform is licensed to Joint Venture between Ems Find, Inc. and EpicMD, LLC (www.goepicmd.com) for the purpose of marketing it to the major Health Care Plans.
Forward Looking Statements: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof. See EMS Find, Inc.'s filings with the Securities and Exchange Commission, which identify specific factors that may cause actual results or events to differ materially from those described in forward-looking statements.
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SOURCE Ems Find, Inc.