DAYTON, Ohio, Nov. 24 /PRNewswire-FirstCall/ -- Advant-e
Corporation (OTC Bulletin Board: ADVC - News),
a provider of Internet-based business-to-business electronic
commerce services, today announced that one of the largest
investors in its 15% convertible debt has opted to convert
$250,000 into Advant-e common stock according to the terms
of the September 27, 2001 agreement at $1.06 per share.
Advant-e raised $775,000 with convertible debt offerings in 2001 and 2002 to facilitate development and marketing of its Internet-based Business-to- Business electronic commerce services. With the conversion of $250,000 into common stock and the previous retirement of $25,000 in principle debt, the outstanding principle balance of convertible debt is now $500,000.
Jason K. Wadzinski, President and CEO of Advant-e, stated, "We are pleased when investors in our convertible debt decide to convert their debt into common stock. We believe this decision is a huge vote of confidence in us and may be based on our recent results and business plan moving forward. We will strive to continue to improve our balance sheet in 2004 and retire debt whenever possible."
Advant-e
Corporation will be filing a registration statement on form
SB-2 with the Securities and Exchange Commission to register
all of the shares associated with the Company's convertible
debt and warrants associated with the debt offering in the
near future.
Additional information about Advant-e Corporation can be found at www.Advant-e.com and www.edictsystems.com or by contacting investor relations at (937) 429-4288. The company's email is info@edictsystems.com.