Max Sound Corp. Investor Update: Shareholder Takes Assignment of Convertible Debt & Executives Begin To Buy Back MAXD Stock
Max Sound Corporation
Jun. 06, 2018
SAN DIEGO, June 06, 2018 (GLOBE NEWSWIRE) -- Max Sound Corporation (OTC:MAXD).
The Company is very happy to announce that its largest investor has taken assignments of the Company’s currently convertible debt.
On May 31, 2018 the Company’s largest investor began purchasing Max Sound’s debt from various note holders who had notes that were eligible for conversion. “We and our shareholders have been rightly concerned with the dilution of the Company’s stock. We believe this is a very positive step that will change our value in a real way,” stated Max Sound’s CEO John Blaisure. “Even with all of the challenges we have faced, this is an exciting time for the company.”
The Company’s Chairman and CFO has not taken a salary for six months together with several new loans he has made to the Company. He and the CEO have begun to buy back MAXD stock this week and expect to continue that trend for the foreseeable future. Watch for Form 4 filings with the SEC. The company expects to have more very positive information to release in the near future on several fronts.
About Max Sound Corporation: As creators of the acclaimed MAXD HD Audio, Max Sound can provide a better solution for Audio, Video and Data transmissions. Max Sound Corporation is an owner of the Optimized Data Transmission Technology patent portfolio. Max Sound®, MAXD® and MAXD Audio Perfected® and HD Audio® are registered trademarks. All other trademarks are the property of their respective owners.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements in this press release which are not purely historical, including statements regarding Max Sound's intentions, beliefs, expectations, representations, projections, plans or strategies regarding the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow or adequacy of capital resources, market acceptance risks, technical development risks and other risk factors. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Max Sound disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release. Expanded and historical information is made available to the public by Max Sound Corporation and its Affiliates on its website http://maxd.audio or at http://www.sec.gov.Contact: email@example.com SOURCE Max Sound Corp.