Pazoo Inc (OTCMKTS:PZOO) has been repaying its debts to improve its balance sheet. The company announced that it has successfully paid of its debt to Eastmore Capital LLC, ahead of its deadline. The same has been done regarding its debt with LG Capital Funding and Macallan Partners. Pazoo has also made clear its intentions to pay off its debts to a number of its debtors, within the next two weeks. The obligations returned and planned for the coming week’s amount to approximately $400,000.
Pazoo had undertaken these debts on account of its promissory notes, which could be converted to publicly traded shares, if the company missed its deadline. The result would have been dilution for the company. As a result of the repaid debts, the company has freed millions of shares for better use. Additionally, the company has also acquired 100% and 40% shares in Harris Lee and MA & Associates respectively. The acquisitions have been fruitful for the company as it reorganizes itself to turn towards traditional financing methods.
The repaying of its debts is a smart move on account of the company, since it has been looking towards expansion in all areas of its business. If it plans to continue to do so, Pazoo, will need to acquire funding through loans. The repayment of debts should also come as a relief to investors, who would now feel assured that Pazoo aims to safeguard their interests. The company CEO, David Cunic, stated that his company seems to be heading in the right direction and developing itself as a business. He also announced that the company hopes to have fully functioning testing labs by end of 4Q2015. He also indicated that the company is looking at non-dilutive financing to help in the company’s rapid growth.
Pazoo Inc (OTCMKTS:PZOO) closed at $0.01 on May 15. The company has 219.73 million shares being traded in the market, with a 52-week range of $0.00-$0.06. PZOO has a market cap of $1.98 million.
