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GAINCLIENTS, INC. (GCLT) Retiring of Convertible Debt Leads to Stronger Balance Sheet, and Growing Cash Reserves

·2 min read

TUCSON, AZ / ACCESSWIRE / December 23, 2020 / GainClients, Inc. (OTC PINK:GCLT) ("GainClients" or the "Company"), a provider of technology solutions for the real estate industry, has announced that in late 2018, it began retiring outstanding debenture debt totaling $354,170.08.

The Company is reporting today that it has reduced its convertible debenture debt by 30% including accrued interest and eliminated all its credit card debt by April 23, 2020. "Retirement of a third of our convertible debentures represents an important milestone in the continual improvement of the Company's balance sheet, as we work to bring the Company's financial reporting current," commented Ray Desmond, President and CEO. "The convertible debenture provision provided us with the required financing to focus on new software development, which will increase revenue and contribute to a stronger financial position with growing cash reserves."

About GainClients, Inc.

GainClients' products, the GCard, the Daily Opportunity Service and Remote Deposit Capture, consist of custom formatted data and marketing services created for the real estate industry including real estate agents and brokers, lender brokerages, title/escrow and insurance companies and individual real estate, mortgage, and title and escrow professionals. Learn more at http://www.gainclients.com/.

Contact

Patty Freeman, at info@gainclients.com or at +1.520.444.3550; Head office: 6245 E Broadway Blvd., Suite 400, Tucson, AZ 85711

Cautionary Statements

This corporate update contains "forward-looking information" that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified using forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

SOURCE: GainClients, Inc.



View source version on accesswire.com:
https://www.accesswire.com/622058/GAINCLIENTS-INC-GCLT-Retiring-of-Convertible-Debt-Leads-to-Stronger-Balance-Sheet-and-Growing-Cash-Reserves