SOURCE: Bravatek Solutions, Inc.

Bravatek Solutions, Inc.

February 23, 2016 06:30 ET

Bravatek Solutions: Convertible Debt Consolidation and Equity Financing

Bravatek Solutions, Inc. Capitalizes on Its Recently Announced Exclusive $8 M+ Purchase Orders and Joint Venture

AUSTIN, TX--(Marketwired - February 23, 2016) - Bravatek Solutions, Inc. (OTCQB: BVTK) announced today that it is actively engaged in detailed strategic negotiations to minimize conversions of its existing (approximately $2.2 M) convertible notes, conversions of which have placed significant downward pressure on the company's stock price, through consolidation of these notes to only a few strategic note holders. These note holders, who the company believes possess longer-term time horizons for their investments (which should allow the company's stock price to reach a value commensurate with its true value), also share the company's steadfast resolve to minimize dilution of our stock in 2016.

In addition, the company also reports that, due to its recent announcements related to exclusive POs totaling over $8.2 M and even larger potential orders available through its recently announced JV, which provides cell tower services to major wireless carriers, the firm is participating in discussions to obtain traditional debt and equity financing to not only refinance out of remaining convertible debt, but also to enable the company to realize its sales potential. Our plans call for this debt consolidation and equity financing to be completed within a conservative, three-month time frame once we receive a firm commitment from an investor. Management plans to provide regular updates on our efforts outlined above.

Tom Cellucci, PhD, MBA, Bravatek's Chairman and CEO, stated directly: "Our team inherited a 7+ year firm that simply had no products immediately available for sale, no services nor revenue, as well as a lack-luster balance sheet. Faced with no real prospects for obtaining sufficient equity financing due to the company's history and balance sheet, we obtained necessary financing through convertible debt, and in a relatively short time, have developed a full family of Ecrypt One cybersecurity email solutions (available on Amazon Web Services), as well as acquired significant telecom assets, which we parlayed quickly into sizeable and exclusive POs for our newly formed Telecom Services Group -- with the potential of additional, even larger POs in 2016." Bravatek expects to demonstrate the ramp up of revenue quarter-over-quarter as it has started executing on the $8.2 M of POs received in late November 2015.

Cellucci continued: "These management decisions were tough, but necessary, to get Bravatek on a sustainable track to profitable growth, and they have not gone unnoticed by equity financing firms. We sincerely appreciate the continued support of our shareholders as we continue to execute on our strategic growth plans."

About Bravatek Solutions, Inc.

Bravatek Solutions, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems.

For more information, visit www.bravatek.com

Safe Harbor Statement

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Media contact:
    Bravatek Solutions, Inc.
    Email contact

    1.866.490.8590