SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

November 22, 2010 08:00 ET

Triton Restructures 70% of the Company's Liabilities

TIBURON, CA--(Marketwire - November 22, 2010) - Triton's (PINKSHEETS: TTDZD) management announced today the restructuring of $7,000,000.00 (Seven Million Dollars) of short term debt, into a Five years convertible debt, at the Company's discretion.

This settlement will provide immediate relieve to the Company's near term operations and allow new investments to be utilized in the Company's operations for expansion, production and marketing.

"We are pleased to achieve this settlement. It will allow us to easily accommodate the new investors and push this heavy debt out to be paid off in five years or converted to capital at the Company's choice. This is one of the steps we are taking to turn around the Company's activities to achieve positive results. Additionally we are working to produce a new business plan that will help the Company together with the new investors accomplish everything we need to do to be successful as a Company and increase the benefits to our shareholders," said Gregory Lykiardopoulos, Chairman and CEO of Triton Distribution Systems, Inc.

About Triton Distribution Systems: Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages.

FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.

Contact Information

  • Contact
    Triton Distribution Systems, Inc.
    Gregory Lykiardopoulos
    CEO
    415-381-4806