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[QUOTE]Originally posted by oneleg: [QB] SatMAX Exceeds Restructuring Commitment; Eliminates $1.4 Million in Corporate Debt HOUSTON, TX -- (Marketwire) -- 03/03/10 -- SatMAX (PINKSHEETS: SATM), a leading global provider of wireless, non-line of sight, satellite communications equipment, announced today it has exceeded its commitment to shareholders by eliminating a total of $1.4 million in debt. SatMAX not only restructured $800,000 worth of debt which the company originally acquired since its inception, but also eliminated an additional $600,000 more than originally planned. The substantial reduction completes a commitment the company made in a January 2010 press release when it initially announced it would eliminate and restructure approximately $800,000 of debt. "This is a critical step in strengthening our business since it relieves a significant burden of debt while giving us an effective capital structure which allows us to achieve our true growth potential," said Don Bresina, CEO of SatMAX Corporation. "Operationally speaking, we are making outstanding progress as demonstrated by recent GSA approved reseller agreements with Houston-based TLC Engineering. TLC has serviced a variety of government clients and opens up a Gulf Coast Customer base of disaster recovery workers to SatMAX equipment and services. Also, we have now completed two orders for both ITT, a Fortune 500 company with over $10 billion in annual revenue, and defense giant, the U.S. Navy. We are showcasing exciting new technological applications as well and feel we are uniquely positioned to rapidly expand worldwide in 2010." [/QB][/QUOTE]
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