OREM, Utah, Sept. 14, 2011 /PRNewswire/ -- Global Investor Services, Inc. ("Global", OTCBB: GISV) announced that it entered into an Agreement with certain note holders, which were in default, to convert the notes into equity.
The Company converted five defaulted notes representing $712,485 in principal and interest into 28,499,400 shares of common stock.
Commenting on the announcement, Dr. Joseph J. Louro, CEO, stated, "This settlement agreement strengthens the company's balance sheet and is another important event in our continuing efforts to improve the financial fundamentals of the company and build shareholder value."
About Global Investor Services, Inc.
Global Investor Services, Inc. provides and delivers a comprehensive on-line program of investor education through its InvestView brand, offers proprietary investor search tools and trading indicators, distributes weekly newsletters, offers access to a live "state of the art" weekly Trading Room. www.investview.com
For more information, please contact:
Global Investor Services, Inc.
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
SOURCE Global Investor Services, Inc.