TULSA, OK / ACCESSWIRE / February 1, 2017 / AppSwarm, Corp. (OTC PINK: SWRM), a company that focuses on the acquisition and development of application-based games and technology, has announced a retirement of over $571,678.74 in corporate debt.
Working with our debt holders over the course of the last six months, AppSwarm management has reduced corporate debt by $571,678.74. This greatly enhances AppSwarm’s balance sheet and will create greater funding opportunity to progress our business opportunities that are ready to launch. This effort is a major move in planned action steps to replenish resources and strengthen corporate creditworthiness.
In addition to its current model of specialization in mobile-based gaming, this new financial position will allow AppSwarm to pursue larger merger and acquisition targets in the technology sector, and to broaden our revenue bases to symmetrical areas that generate revenue without increasing company overhead.
AppSwarm management states, “We’ve been eager to move forward on multiple projects, but felt strongly that the best way to do so was to first restructure and improve the financial position of the company. After a season of foundation building, 2017 will launch with immediate expansion and we’re excited to bring forward revenue growth and profitability that fulfills our business model.”
We accelerate the development of mobile games and fast-track them to market. We partner with game developers through joint ventures, royalty agreements, marketing partnerships, and outright purchase through our publicly-traded company on the OTC markets, ticker SWRM.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk, and other risks detailed from time to time in the Company’s filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
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SOURCE: AppSwarm, Corp.