Roomlinx Closes $1.87 Million Debt Conversion
September 17, 2009 (FinancialWire) –Roomlinx, Inc. (OTCBB: RMLX) said it has finalized a $1.87 million debt conversion into common stock. The conversion eliminates all of the firm’s convertible debt.
Under a conversion agreement, all of the company’s outstanding debentures, worth $1.8698 million, were converted into an aggregate of 93,490,000 shares of Roomlinx common stock at a conversion price of $0.02 per share.
The company said that, with the exception of around $370,000 of long-term debt, it is now debt free.
Broomfield, Colorado-based Roomlinx provides in-room interactive TV products to the hospitality industry.
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