CybeRelease: (OTC: APPI) Reports Debt Reduction Exceeding $1.5 Million
(CybeRelease, November 22, 2006) - Lake Harmony, PA - Advanced Plant Pharmaceuticals, Inc. (OTC BB: APPI) announced today that the company has made significant progress in reducing debt. The company has negotiated with many of its debt holders to accept equity to retire the majority of the outstanding debt.
David Lieberman, CEO of Advanced Plant Pharmaceuticals, said. ``We are very pleased to have retired more than $1.5 Million in debt to date. In addition, we are experiencing a great deal of success in negotiations with our remaining debt holders to accept our equity as payment for the remaining debt. We look forward to advancing the company’s new business plan and building shareholder value. Debt reduction is an integral part of our plan to enhance our financial flexibility as we build the company.’’
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