HOBOKEN, New Jersey, August 15, 2017 /PRNewswire/ --
LTS Nutraceuticals Inc. (OTC: LTSN), a health & wellness holding company, today announced that it has retired an significant percentage of its convertible debt associated with its acquisition of Natural Products, Inc.
The company has retired the larger $75,000-dollar convertible note (principle and interest) associated with the acquisition, leaving the smaller $50,000 dollar convertible note with a maturity date of December 14, 2017, the company expects to utilize its option and retire the note with cash not shares. There currently are no other convertible notes.
After retiring the note, the current capitalization of the company is as follows:
Outstanding Shares: 353,823,324
Restricted Shares: 232,400,000 (203,679,586 held by management.)
Free Trading: 121,423,324
At this current time, the company does not anticipate any change in the capitalization of the company.
We continue the final process of developing our products ingredients (20 powders, 15 vitamins along with several amino acid mixes), packaging, FDA labeling as well as taking bids for the manufacturing in conjunction with NutriData.
Updates and announcements regarding progress will now become more frequent as we near the finalization and definitive product launch date.
About LTS Nutraceuticals Inc.:
Headquartered in Hoboken, NJ, LTS Nutraceuticals Inc. is a health & wellness holding company engaged in acquiring existing companies within the sector of nutraceutical and organic products. We also develop our own branded products, develop brand identity; assist in arranging for contract manufacturing, fulfillment and marketing.
This press release does not constitute an offer of any securities for sale. This press release contains certain 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 involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
SOURCE LTS Nutraceuticals Inc.