SOURCE: Global Investor Services, Inc.

October 05, 2010 09:54 ET

Global Investor Services, Inc. Completes Majority of Debt and Derivatives Re-Structuring

NEW YORK, NY--(Marketwire - October 5, 2010) -  Global Investor Services, Inc. (OTCBB: GISV) ("Global") has restructured a significant portion of its debt and derivatives. As a result of the restructuring, the company will take a one-time charge in the quarter ended September 30, 2010. The Company believes that the conversion of the debt will position the Company for improved financial performance in future quarters.

The Company accomplished this action by offering conversion incentives to its investors who hold certain debt and derivative instruments. A majority of the holders of debt and derivatives have been contacted and have chosen to convert their position to become equity holders and/or long-term debt holders. 

"This restructuring program, which our investors have strongly supported, is an important step forward for the Company and will allow it to strengthen its financial foundation and drive for improved financial performance in future quarters. The timing of this restructuring program is all the more important as the Company now stands at a pivotal point -- its US revenues are growing, and the Company intends to commence its global expansion Into Canada and Asia in the current quarter. In particular, the dissolution of derivatives and stock equivalents will improve working capital and remove the cause of extraordinary losses generated from mark-to-market accounting transactions associated with derivatives," said Nick Maturo, CEO of Global Investor Services, Inc.

About Global Investor Services, Inc:
Global Investor Services, Inc. provides and delivers a comprehensive on-line program of investor education through its InvestView brand, offers proprietary investor search tools and trading indicators, distributes weekly newsletters, offers access to a live "state of the art" weekly Trading Room. www.investview.com

Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact Information

  • For more information, please contact:
    Global Investor Services, Inc.
    William Kosoff
    CFO
    Tel: (212) 227-2242
    www.GISVonline.com