WEST PALM BEACH, FL--(Marketwired - Apr 14, 2014) - Greenfield Farms Food, Inc. ("Greenfield" or the "Company") (OTCQB: GRAS) announced today it has made significant progress in the reduction of its convertible debt. The September 30, 2013 Quarterly Report on Form 10-Q reported that the largest convertible debt holder, Asher Enterprises, was owed $167,950 in face value of convertible notes. On April 4, 2014, as a result of purchases by unaffiliated third parties, the remaining balance of $38,400 owed Asher had been transferred and Asher no longer holds any convertible notes issued by the Company. The balance of all the Asher notes other than the remaining amount acquired by third parties has been converted to common stock of the Company.
Greenfield Farms Food, Chief Financial Officer, Henry Fong, said, "We are pleased with the progress we are making with the debt restructuring and will be seeking additional ways in which we may enhance the financial structure of the Company moving forward."
About Carmela's Pizzeria
Carmela's presently has four Dayton, Ohio area locations offering authentic New York style pizza. Carmela's offers a full service menu for Dine In, Carry out and Delivery as well as pizza buffets in select stores. Carmela's has been noted in Dayton Daily News as one of "The Best Pizzerias" in Dayton. Visit the Carmela's website at: www.carmelasohio.com
About Greenfield Farms Food, Inc.
Greenfield is a publicly-traded nominally capitalized company operating through its wholly-owned subsidiary Carmela's Pizzeria CO, Inc. through the Carmela's Pizzeria Dayton restaurant locations that include pizza buffets, alcohol service, delivery and carry-out depending on the location; and has previously been a limited producer and marketer of "grassfed" beef that supplied a North Carolina based grocer.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Greenfield Farms Food, Inc.