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Skinny Nutritional retires $1,255,000 in outstanding debt
Skinny Nutritional Corp the maker of Skinny Water, has completed a transaction with Ironridge Global IV, for the settlement of approximately $1,255,000 of outstanding debt in consideration of an initial amount of 65,100,000 shares of common stock of the company.
In connection with this transaction, Ironridge Global IV, Ltd. had acquired approximately $1,225,000 of outstanding debt from certain creditors of the company, substantially reducing the company’s outstanding accounts payable balance.
“Our transaction with Ironridge has allowed us to substantially reduce our accounts payable by over $1,250,000″ said Michael Salaman, CEO of Skinny Nutritional Corp.
Ironridge Global Partners is a private equity firm that assists public companies in financing operations and expansion. By supplying innovative financing solutions and flexible capital, Ironridge Global seeks to unlock the full potential of cash-constrained businesses.
The firm’s core objective is to propel high growth companies in building faster growing and more profitable enterprises.
Source: Skinny Nutritional
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