DENVER, CO--(Marketwired - Jun 30, 2017) - Ubiquitech Software Corp. (
As outlined in the company financial statements uploaded to OTCMarkets.com, the company has long term convertible debt from several investors that helped the company launch its business during 2013 and 2014. These debt instruments are convertible at the company par value. These investors have the right to convert stock from time to time at their discretion but are limited as to their percentage ownership in the company. The company also has the right to pay down portions of this debt at its discretion. As previously announced, the company has paid down a portion of this debt and will continue to do so as business conditions allow. The company continues to focus its efforts on growing its revenues and earnings and will continue to utilize its resources appropriately for the benefit of all shareholders and the long-term growth of the company. Any changes in the capital structure will be disclosed in the company quarterly and annual reports as required.
The company had previously announced that it was working on a name and symbol change in order to reflect the Company as being solely in the Hemp sector. However, after recent developments and several emerging new opportunities in the Technology Sector, and related to the Company's internal marketing and technology platforms, the Board of Directors has made the decision that the current, and more broader appeal, of the name Ubiquitech Software Corp. will fit more closely, and better serve the Company and shareholders as the Company expands.
The company continues to expand its HempLife Today subsidiary, and looks to better leverage its software, and processes, into other profitable industry segments, this making Ubiquitech (UBQU), a stronger and more profitable Company moving forward.
CEO James Ballas said, "This was a huge decision to stay with our current, and long-term name, but we now have opportunities in the Tech sector that will not only serve our HempLifeToday division, but will also give us leverage in a new and emerging Technology sector that utilizes all of the talent, software, programming, and lead generation that has made HempLife Today so successful, and now we are going to be applying this to an additional sector. Simply put, we are very excited about this new opportunity to add another successful division to the UBQU umbrella, and we will be releasing this exciting news to our shareholders in the weeks ahead."
In addition, The Company wants shareholders to know that the new HempLife Today™ Website is now on track to go live by mid July, and the Company will release more about this in the days and weeks ahead. The Company is very happy with the look and navigation of the new site and believes this new site will help launch HempLife Today™ to the next level.
About HempLife Today™
HempLife Today™ was created by a group of highly motivated, skilled and health minded people. Who have learned that Hemp, and Hemp related products, can be a great source of increased health, vitality, and overall well being in our lives. We also believe that high grade CBD (Cannabidiol), could very well be the miracle supplement the world has been waiting for as more and more people discover the health benefits of this remarkable extract. HempLife Today™ offers its quality CBD products @ www.HempLifeToday.com
Ubiquitech Software Corp., through its subsidiaries is a dynamic multi-media, multi-faceted corporation utilizing state-of-the-art global internet marketing, Direct Response (DRTV) Television, Radio, and traditional marketing, to drive traffic to the new and emerging multi-billion dollar industries like its subsidiary HempLifeToday™
HempLifeToday™ focuses on the exciting and dynamic new thinking in the world today that recognizes the important health and life enriching enhancement that CBD Oil from the Hemp plant can bring. Through its network of quality USA growers HempLifeToday.com™ has developed multiple and proprietary CannazALL™ CBD oil products that include its popular CBD Tinctures, Oils, GelCaps, CBD Powder, Skin Salve, Wax Honey, and e-liquid, all offered @ www.HempLifeToday.com
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.