LAS VEGAS, NV--(Marketwired - Feb 14, 2017) - Alkame Holdings, Inc. (OTC: ALKM), a publicly traded health and wellness technology holding company with a focus on patentable, innovative, and eco-friendly products, is pleased to announce, that EROP Capital, LLC has completed its 3(a) (10) process, resolving several of Alkame Holdings, Inc.'s financial obligations.
On November 10, 2014, Alkame Holdings, Inc. entered a Stipulation and Settlement Agreement with EROP Capital, LLC, for the settlement of certain past-due obligations and accounts payable of the Company totaling $796,451.55. EROP had purchased these obligations and accounts payable from certain creditors and vendors of the Company, and on January 12, 2015, the Broward County, Florida Court(s), entered an order approving, among other things, the fairness of the terms and conditions of an exchange pursuant to Section 3(a)(10) of the Securities Act of 1933, as amended, in accordance with a Stipulation of Settlement Agreement (the "Agreement"). EROP was entitled to convert the debt into common shares of the Company, and under very stringent guidelines, to sell the shares until such time as they had recovered the full amount of $796,451.55 in past-due obligations and accounts payable of Alkame. The EROP Order provided for the full and final settlement of the EROP Claim and the EROP Action. With completion of the conversion and payments of all amounts under the Agreement, the case between EROP and Alkame will now be closed out.
Robert Eakle, CEO of Alkame Holding, Inc., stated, "This marks a major milestone for Alkame, and also finalized our control of the IP."
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded health and wellness technology holding company, with a focus on patentable, innovative, and eco-friendly consumer products. The Company's wholly-owned subsidiaries market and distribute enhanced waters utilizing an exclusive patented formula and technology to create water with several unique properties, enabling an increase to available oxygen content, optimized pH levels, as well as the added benefits of electrolytes, and enhancement of antioxidant properties, equating into many potential health benefits, such as a reduced structure for permeability, improved metabolic efficiency, a boosted immune system, improved cardio respiratory function, and a decrease in lactic acid for faster muscle recovery. The organization is diligently building a strong foundation through the launch and acquisition of appropriate business assets, and by pursuing multiple applications to utilize its Intellectual Property by placement into several emerging business sectors, such as the growing aqua-culture industry, consumer bottled water and RTD products, household pet products, horticulture and agriculture applications, as well as many other various water treatment solutions to both new and existing business platforms.
For more information, visit www.alkameholdingsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.