Message #4 From:
Stock News Bot Date: February 4, 2005 06:17:21 AM
UCSY Universal Communication Systems, Inc., Bond / Debenture Holder Converts $600,000 Being Half of Outstanding Debt at $ 0.50 per Share
Universal Communication Systems, Inc., Bond / Debenture Holder Converts $600,000 Being Half of Outstanding Debt at $ 0.50 per Share
MIAMI, FL - MARKET WIRE - 01/26/05
Universal Communication Systems, Inc.(OTC BB: UCSY) company president Michael J. Zwebner announced today that the company has successfully reached agreement with The Endeavor Capital Investment Fund S.A , being one of the main remaining debenture holders to convert almost 50% of the outstanding debenture debt, a total of $600,000 for 50 cents per share. The company will now issue 1.2 million shares to close this transaction.
In a statement issued today, Mr. Zwebner said: "In line with company policy of reducing outstanding debts, we are very pleased with this transaction. This cuts in half the amount remaining outstanding to The Endeavor Capital Investment Fund S.A. We take this opportunity to thank the directors of the fund for their co-operation and final agreement."
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Safe Harbor:
Caution Concerning Forward-Looking Statements by Universal Communication Systems, Inc.
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and factors affecting the integration of the businesses of Universal Communication Systems, Inc. More detailed information about these factors may be found in filings by Universal Communication Systems, Inc. with the Securities and Exchange Commission, including their most recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB. Universal Communication Systems, Inc. is under no obligation to, and expressly disclaim any such obligation to, update or alter their forward-looking statements, whether as a result of new information, future events, or otherwise.
