Updates to Shareholders
Galenfeha Retires All Convertible Debt
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GALENFEHA ANNOUNCES LAUNCH OF NEW WEBSITE; UPDATES SHAREHOLDERS OF RECENT DEVELOPMENTS
FORT WORTH, TEXAS, November 22, 2016—Galenfeha, Inc. (OTC:GLFH) today announced the launch of the company’s new website and updates shareholders of recent developments.
Mr. James Ketner, Galenfeha’s founder and recently appointed Chairman and CEO discussed: “As you are aware, Galenfeha is moving back in the direction originally intended upon the company's formation. Today, we have started down the path to regain my initial objectives for the company: to be a vehicle that assembles a team and finances the development of groundbreaking new technology that is resistant to adverse economic and market fluctuations.”
Galenfeha generates revenue by earning royalties from products we developed, and directly investing in a diversified group of businesses that generate cash and consistently earn above-average returns on capital. The company makes investment decisions by utilizing management’s historic relations and expertise to identify opportunities that we feel are undervalued.
Mr. Ketner continued: "With the recent sale of our stored energy division, we are quickly moving the company towards profitability and improving our balance sheet. We have seen reduced major headwinds to our shareholders in the last 30 days by the elimination of all convertible debentures, cutting our debt by more than half, lowering our overhead and SG&A costs to a minimum, and anticipate directing the company to profitability by the end of the year."
Galenfeha also provides engineering, regulatory, and general business consulting services across all disciplines, such as aerospace, oil and gas, automotive, and medical. We are currently researching new technology to more efficiently produce sustainable energy to satisfy the growing needs of the planet.
In closing Mr. Ketner stated: “I would like to point out a cautionary statement I put on the investor page of our new website:”
Investing in our securities, whether open market purchases or private transactions, comes with the high risk that you could lose your entire investment. Our Independent Auditors have issued a going concern cautionary statement on our financial reports since the company's inception.
“I hope to be able to remove these cautionary statements in the near future, but for now, I want to be on the record informing the public of the risk involved investing in our company.”