DENVER, CO--(Marketwired - Jan 31, 2017) - Ubiquitech Software Corp. (OTC PINK: UBQU) is pleased to announce that it has successfully paid down $65,000 of debt through excess cash flow. The company will continue with this process throughout the year as it monitors the best use of cash in the coming quarters.
This previously incurred debt was used for research and development, inventory reserve, and marketing. Paying off this debt gives the company additional monthly positive cash flow and helps improve the company balance sheet moving forward.
"We are very happy to have this portion of debt behind us now," said James Ballas, CEO "and moving forward this increases our monthly cash flow that can be accumulated to purchase inventory or pay down additional debt as we manage the additional growth of the company. We will continue to do what is best for the company's growth, our customers, our stock, and our shareholders, and we will always to operate in this manner."
The company continues to position itself for accelerated growth quarter over quarter and successful debt management is an integral component to company growth.
About Ubiquitech (HempLife Today™)
Ubiquitech Software Corp, through its subsidiaries is a dynamic multi-media, multi-faceted corporation utilizing state-of-the-art global internet marketing, Direct Response (DRTV) Television, Radio, and traditional marketing, to drive traffic to the new and emerging multi-billion dollar industries like its subsidiary HempLifeToday.com™
HempLifeToday™ focuses on the exciting and dynamic new thinking in the world today that recognizes the important health and life enriching enhancement that CBD Oil from the Hemp plant can bring. Through its network of quality USA growers HempLifeToday.com™ has developed multiple and proprietary CannazALL™ CBD oil products that include; It's popular CBD Tinctures, Oils, GelCaps, CBD Powder, Skin Salve, Wax Crumble, and e-liquid, all offered @ www.HempLifeToday.com
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward- looking statements in order to reflect events or circumstances