ISW Holdings Corporate Update: GPL Convertibles Settled, Mining Underway, Form 10 and Uplist Update
LAS VEGAS, June 14, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in Telehealth and Renewable Energy Cryptocurrency Mining, is pleased to provide its current and prospective shareholders with an update on the status of its convertible debt resolution process, mining operations and upcoming audit results.
Convertible Debt: In early April 2021, the Company announced that it had signed an agreement with GPL Ventures (“GPL”) to eliminate over $2.4 million in convertible promissory notes. That agreement covered all convertible debt held by GPL and represented more than 92% of the Company’s outstanding convertible debt obligations. Now, the Company further announces that the settlement agreement, and all of its stipulations, has been satisfied, with its payment wired to GPL. All related notes have been stamped “paid.”
Mining: The Company has begun mining. Management expects to catch up to the larger objectives laid out for mining progress and results in 2021, with its projects in Pennsylvania and Georgia getting up and running at reputable hash rates, which should drive strong topline growth for ISW Holdings this year. The Company continues to target a carbon-neutral mining paradigm.
Audit, SEC, and Uplist: The Company plans to complete an audit of its 2020 performance over the near term. Once that is complete, management will file Form 10 with the U. S. Securities and Exchange Commission (the “SEC”). Management believes the filing of Form 10, and filing future events with the SEC, will help strengthen the case for further uplisting of shares following its establishment on the OTCQB tier.
“We continue to work hard every day to drive shareholder value through a combination of growth and transparency,” commented Alonzo Pierce, President and Chairman of ISW Holdings. “We are eliminating structural financial risk and ramping tangible growth, all while taking active steps to open up access to our shares to a widening audience. Looking ahead, we have a number of exciting steps in front of us that stand to directly expand our operational potential. It’s going to be an exciting second half of the year.”
About ISW Holdings
ISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together, with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space; and the partnership has a vitally needed patent now pending.
The Company’s cryptocurrency mining segment, established in partnership with industry leader, Bit5ive LLC, is driven by a mission to mine cryptocurrency with a zero carbon footprint.
For more information, visit www.iswholdings.com.
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
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