Sixty Six
Oilfield Services, Inc. Announces Debt
Forgiveness
and Answers Stockholder
Questions
NEW
YORK, NY. -- March 9, 2018 -- InvestorsHub NewsWire
-- Sixty Six
Oilfield
Services, Inc. (OTCBB:
SSOF) has been advised by an affiliated holder of the Company's
convertible debt that the holder is forgiving the debt incurred in
2015 and 2016 plus accrued and unpaid interest. All of the
convertible debt totaling approximately $400,000 in principal was
incurred prior to the Company's acquisition of its oilfield
services business in 2017, and all that currently remains is
approximately $62,000 principal amount of convertible debt. This
debt is held by a non-affiliate and additionally, accrued and
unpaid interest will remain outstanding and subject to
conversion.
Dave T. Ho, the
Company's Chief Executive Officer, said "This debt relief is
expected to make the Company a more attractive acquisition partner
as we seek to acquire successful advertising, marketing and digital
businesses while retaining and growing the oilfield services
business.
Mr. Ho
continued: "With the recent announcements and changes in the
company, we have received questions from a number of our
stockholders seeking clarification of our plans moving forward. We
are answering a number of those questions below. Moving forward we
will continue to increase our transparency and responsiveness to
our shareholders. We will monitor questions and answer them on a
regular basis."
1. Will SSOF be
using the Lexington Ave, New York address from now on, or will it
stay in Oklahoma? Answer The Company's corporate headquarters are
located in New York City. Its oilfield services operations continue
to remain in Oklahoma City.
2. When can we
expect to see OTC Markets updated? Answer The Company's OTC Markets
Information Statement has been updated through fiscal year end
December 31, 2017.
3.
Will
Ken Bland and Jackson Morris continue with SSOP? Answer Mr. Bland
is the Company's director and Chairman. Mr. Morris is the Company's
corporate secretary and legal counsel. Each of them is expected to
continue providing appropriate services to the Company.
4.
Do you plan to list James Frazier as an officer with the State of
Nevada? Answer Mr. Frazier is the Company's Executive Vice
President for its oilfield services operations and is not required
to be listed with Nevada.
The
Company has set up a new e-mail address at info@sixtysixoilfield.com so
that we can continue receiving questions from the investment
community. Please address all questions to that email. Please note
that the old PR address is no longer in use.
About the Company
Sixty Six
Oilfield
Services, Inc. is actively pursuing a strategy of acquiring a
diverse range of, strategic marketing and technology businesses for
its portfolio. The Company is continuing its oilfield services
business and will maintain its offices in Oklahoma City.
Learn
more at www.sixtysixoilfield.com.
SAFE HARBOR INFORMATION
This
press release may contain forward-looking information within the
meaning of Section 21E
of the
Securities Exchange Act of 1934, as amended (the Exchange Act) The
Company is not eligible to rely on the safe harbor provided by
Section 21E(c) of the Exchange Act because it is not subject to
filing periodic reports under Sections 13 or 15(d) of the Exchange
Act.
For
more information, contact:
Sixty
Six Oilfield Services,
Inc.
450
Lexington Ave
4th
floor
New
York, NY 10017
(929)
383-0821
Info@sixtysixoilfield.com
