CORAL SPRINGS, Florida--Union Dental Holdings, a provider of multi-state dental services for union members, has announced being informed that Energy Edge Technologies Corporation has entered into a definitive agreement with Dutchess Private Equities Fund, LTD, to purchase all of the Dutchess shares of equity. This includes all warrants in UDHI.
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In 2005, UDHI completed and filed a registration statement with the Securities & Exchange Commission for a convertible Debenture and a Senior Note that was converted into equity via shares of stock and a warrant at a later date.
This initial financing was considered by many in the financial industry as "toxic financing" or "Death Spiral Financing" for micro cap stock companies that were trying to build their business models but could not obtain financing in any other manner for their company to go forward other than through the P.I.P.E. (Private Investment in Public Entity) type of financing.
Dr. George Green, CEO of UDHI, stated: "We are extremely pleased at the completion of this agreement to have Energy Edge as a shareholder in our company as their business relationship being a distributor of the Drinkable-Air Atmospheric Water Generators (including their African initiative and Haiti distribution) coincides with our business model and our exclusive distribution rights for the dental markets to the Drinkable-Air line of products in the USA for the AWG machines.
"The combination of interlocking our USA agreement along with EEDG's marketing in foreign countries could compliment marketing plans and create additional revenues for both companies. We look forward to a long standing business relationship with EEDG who have indicated their interest is to hold this equity position for a long-term basis as opposed to a strictly financial relationship we have had to encounter with Dutchess in the past. The Dutchess financial relationship has kept our stock undervalued and the equity position they held has been an overhang on the market preventing our shares seeking their true value for all of our loyal shareholders."
For more information, visit www.uniondental.com/ir.
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