TAMPA, FL, April 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – REMSleep Holdings, Inc. (OTC PINK: RMSL) is happy to announce that it has eliminated convertible, toxic notes from its balance sheet.
REMSleep Holdings, Inc. (OTC Pink: RMSL) has eliminated the first two out of three convertible notes totaling almost $250,000.00 from its balance sheet. The notes were scheduled to come due on April 15, 2020. REMSleep plans to have the last of these notes eliminated from its balance sheet prior to it becoming eligible for conversion into the common stock which could be sold into the market. In October of 2019, REMSleep Holdings sold convertible debt in the form of three different notes to three different investors to raise the capital required to take its flagship product, the DeltaWave CPAP mask, to market. The notes were scheduled to come due on April 15, 2020, at which time, the debt holders would have had an option to convert their debt into, up to, and potentially over a combined 14.7% of the outstanding shares of REMSleep Holdings, Inc. and sell those shares into the market without any restriction.
Tom Wood, CEO of REMSleep Holdings, Inc., commented, “We have always put the best interest of our shareholders first and we are excited that we have the ability to pay off these notes prior to any conversion that could ultimately hurt the company’s shareholders and its valuation.”
REMSleep’s groundbreaking DeltaWave CPAP mask is currently available for pre-order on the company’s website (https://remsleep.com/product/deltawave/).
About REMSleep Holdings, Inc.
REMSleep Holdings, Inc. is a medical device manufacturer dedicated to forever changing the level of treatment provided to obstructive sleep apnea patients. Our focus is primarily designing and manufacturing devices and products for the treatment of sleep apnea and other respiratory conditions. With over 30 years of collective experience in CPAP therapy, the REMSleep team has extensive knowledge and understanding of CPAP and the challenges of patient compliance. We diligently strive for our products to make the difference and improve the condition of those suffering from sleep apnea.
REMSleep Holdings, Inc. has a new patent pending, innovative sleep apnea product that will meet multiple market demand and be able to reach and address a large percentage of the patient population who continue to struggle with CPAP compliance.
Forward-looking Statements.
This press release may contain forward-looking statements regarding the Company. All statements, other than statements of historical fact included herein, are "forward-looking statements" including statements regarding the Company’s future prospects and risks in investing in Company’s common stock. These statements are based upon the Company's current expectations and speak only as of the date hereof. Financial performance in one period does not necessarily mean continued or better performance in the future. The Company's actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include the status of the Company's common stock as a "penny stock" and those risk factors stated in reports filed with the U.S. Securities and Exchange Commission or “SEC” on its EDGAR website (URL: www.sec.gov).
Contact:
REMSleep Holdings, Inc.
2202 N. West Shore Blvd.
Suite 200
Tampa, FL 33607
Email: twood@remsleep.com
Phone: 813-367-3855
Fax: 813-639-7501