Galenfeha CEO Updates Shareholders
Galenfeha Announces Fleaux Services LOI
Galenfeha Secures Additional Contracts
GALENFEHA COMPLETES RETIREMENT OF ALL CONVERTIBLE NOTES
FORT WORTH, TEXAS, February 8, 2018—Galenfeha, Inc. (OTC: GLFH) today announced the termination and extinguishment of all convertible notes the company entered into 2nd and 3rd quarters 2017. The company disclosed the note payoffs on Form 8-K, filed with the Securities and Exchange Commission on Thursday, February 8, 2018.
Galenfeha President and CEO, James Ketner commented: “This action removes an obstacle in front of investors, and reaffirms our commitment to our shareholders. The management of the company has purchased large positions in the open market, and therefore our interests are aligned with all current and future shareholders.”
The company has extinguished all debentures that convert into stock, and there is no more stock to be converted at the time of this press release. The company has no options or off balance sheet arrangements that convert into stock.
In closing, Mr. Ketner stated: “With our recent acquisition of Fleaux Solutions, our 2018 year-end earnings guidance of $.04 per share, and with yesterday’s closing price of $.03, our stock is currently trading at a forward P/E of less than 1.”