SOURCE: Rx Safes, Inc.


January 05, 2016 16:22 ET

Rx Safes Discloses Unauthorized Debt Conversion

HENDERSON, NV--(Marketwired - Jan 5, 2016) - Rx Safes, Inc. (OTCQB: RXSF), the developer of autonomous fingerprint healthcare security products, announced today that it was made aware this morning, by its transfer agent, that an improper and unauthorized series of debt conversions have taken place since December 24, 2015, with regard to a prior obligation of the company.

The debt conversions were not properly noticed to, nor approved by the company and the company believes that the party has submitted irregular paperwork in order to avoid notifying the company and to expedite trading over the holidays. The company has put a "stop" on all such requests by the subject party to the company's transfer agent and will contest any and all requests from said party, or its assigns. The company is prepared to take any and all legal action to protect its rights and those of its shareholders.

"I want to assure our shareholders that we do not take unauthorized debt conversions lightly. We intent to take all expedient action to prevent any further unauthorized conversions," stated the company's CEO, Ms. Lorraine Yarde. She added, "The amount of shares in question so far total less than 30,000, but based on the recent market activity, it appears that the holder jumped the gun. These shares will not be delivered until this matter is resolved to the company's satisfaction."

The current issued and outstanding shares of the company, according to the books and records of the transfer agent as of today's date is 1,467,498, and the public float is 283,025, including the shares in question.

About Rx Safes, Inc.

Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit

Forward-Looking Statements for RXSF:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

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Contact Information

  • Investor Relations Contact:

    Email: Email Contact
    Telephone: 1-844-RXSAFES Ext 4