Energy Focus, Inc.
April 11, 2014 09:00 | Source: Energy Focus, Inc. SOLON, Ohio, April 11, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (OTCQB:EFOI), a leader in LED lighting technologies, today announced all of the Company's 5% convertible subordinated promissory note holders converted the outstanding principal amount of $6,145,000 into 26,717,393 shares of common stock of the Company effective March 31, 2014, eliminating the majority of the Company's long-term debt.
As consideration for entering into the agreements, the note holders will receive additional interest payments for six months following the conversion. The conversion of all outstanding notes is expected to cause the Company to incur a non-operating charge of approximately $2.7 million due primarily to the write-off of the unamortized debt discount associated with the notes, but will also increase shareholders' equity by $6.1 million.
"We are pleased with the continuing confidence our investors have shown in Energy Focus," said James Tu, Executive Chairman. "As we grow our sales pipeline with new large clients, this transaction is an incremental yet important step in improving our balance sheet and strengthening us financially, not only as a publicly traded company, but also as a leader in LED lighting retrofit. We very much appreciate the support of our convertible holders and welcome them as shareholders.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include all matters that are not historical facts and can be identified by the use of words such as "believes," "expects," and similar expressions. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from Energy Focus' forward-looking statements. These risks and uncertainties include, but are not limited to: future charges and financial results; growth in the markets into which Energy Focus sells; conditions of the lighting industry and the economy in general; our ability to compete in certain markets; the evolution and future size of those markets; net sales and sales pipeline growth; sources of net sales; anticipated revenue from government contracts; our reliance upon a limited number of customers; trends in the price and performance of light-emitting diode ("LED") lighting products; and the benefits and performance of our lighting products. For more information about potential factors that could affect the financial results of Energy Focus, please refer to the Company's SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient LED lighting products, turnkey energy efficient lighting solutions and a developer of energy efficient lighting technology. Our solutions provide energy savings, aesthetics, safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government continues to enable us to provide energy efficient LED lighting products to the U.S. Navy and the Military Sealift Command fleets.
Customers include national, state and local U.S. government agencies as well as Fortune 500 companies, the U.S. Navy, and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, and the United Kingdom. For more information, see our web site at www.energyfocusinc.com.
Energy Focus, Inc.
(440) 715-1300Related Articlesother press releases by Energy Focus, Inc.
April 03, 2014 09:00Energy Focus, Inc.
March 27, 2014 16:10Energy Focus, Inc.
March 27, 2014 09:00Energy Focus, Inc.
Energy Focus, Inc.
Energy Focus, Inc.
With a Reader Account, it's easy to send email directly to the contact for this release.
Already have an account? Log in here.
0.00 Day's Range: 0.00-0.00Open: 0.00Previous Close: 0.64TSO: 51,437,000Market Cap: 32.
You must be a registered user to download this file.
© 2014 GlobeNewswire, Inc. All Rights Reserved.
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
5200 W. Century Blvd.
Nurse case manager resume examples
Enlarged clitoris pictures bodybuilding
Newborn elf hat crochet pattern
Funny sayings about ex boyfriends
Alphanumeric de test
Dating headline men examples
Advantage and disadvantage of direct exporting
Female pelvic exam video
Memorandum of understanding sample
Marijuana pain management contracts
64 bit cleaner
Lisa robin kelly death
Tandy safe house alarm
Tbest happy birthday wishes for a sister
Fotos papiloma humano c
Birthday of someone who has died quote
Do you take magnesium with your adderall
Clonazepam with codeine tablet can get high
Cool shadic sprites
Racing games new study hall]
Photos of castration men
Night shift nurses episode
Moneytalks zebra body paint
Pilsner urquell spiel cheats
How to use grow financial loan payment coupon
Free camo theme for blackberry 8520
Black barber haircut designs
Printable alphabet line
Dogs knotting with a woman
Inspirational quotes for a troubled marriagem
Dueling banjo fiddle tabs
Babysitting cream v.98.86
Apa sample cover letter
Letter of intent for tcm
Editable birth certificate free
Natural help for alcohol cravings
Lean office jeopardy game
Design minifigure lego online
Football explanation powerpoint
Gomez fake nude
Belly inflation game
Bank of america assessment test for personal banker
S r smith slides
Design bike gameesign bike game
Is selena gomez naughty
Chapter by chapter summary of lupita ma
Pete lee abortion
Nims 800 test answers
Pligg content management system debt help
Pictures of a brazilian cut
How to remove a virus from hotmail account blurd
Guilt and shame worksheets free
Good nicknames for dating sites
Qp hessian is not positive semi-definite
Does naomi russell realy have aid
Follando a adolescente
Angler fish coloring
Minecraft carnival servers
Castro supreme video clips
Pumpkin carving the lorax patterns
Cross necklace cleavage pics
Carter yf carburetor diagram
Funny team names for running
Funny ball state names
Longnipple pitchuresongnipple pitchures
Police bicycle certification
Beach volleyball team names
How to get secret moshlings
Itunes code generator for mac
Jersy shore ipple slip
Provigil and breastfeeding
Free chat line in new york
Metanx free sample
Hijo cogiendo ala mama
Negras jovencitas nalgonas y caderonas
Lady dinna nude
Can you take green coffee bean extract with bupropion
Where to find all data prohere to find all data pro
Nge hack facebook
Emo heaven stories dirty
Dog knotted woman
Examples of professional philosophy statement
William hill 49ers numbers today
Girl using urethra sounds pics
1980s mixed wrestling
Sadlier oxford vocabulary answers unit 2 level gadlier oxford
Buy adderall online no subscription
Letter of application for renting
Pinterest birthday party ideas boy
Weird writing for facebook
Med school reference letter
Gotham typeface free download mac
Java chat history facebook
Bible verses about personal sacrifice
Example of career goals for an administrative assistant
What does eas mean on time warner cable box
Knitting and marijuana
Difference between tecta and prevacid
Estradiol levels after hysterectomy
by Catherine S.
Tweet POWER has been restored in all villages in Davao Oriental, more than a year after the province was devastated by Typhoon Pablo, Malacañang said on Friday.
It will be recalled that President Benigno Aquino 3rd blew his top during a visit in Davao last February when residents in several villages complained of lack electricity in their areas brought about the strong typhoon.
At that time, Energy Secretary Carlos Jericho Petilla told the media he is ready to be discharged of his post if electricity will not restored in 45 days.
As reported by the National Electrification Administration (NEA), Presidential Communications Secretary Herminio Coloma Jr. said that “power has been restored in all of the remaining 25 remote barangays in the municipalities of Cateel, Boston and Baganga in Davao Oriental.
“Based on the NEA report, the construction of the line started last March 3 and was completed on March 29,” Coloma noted.
He added that 119 kilometers of distribution lines were constructed and 1,549 poles erected. Following these efforts, 673 households have been connected to the distribution lines.
Newspaper reports quoted NEA administrator Edita Bueno as saying that the immediate release of the calamity fund intended for electricity restoration in these areas—done steadfastly under the direct mandate of the President.
The other reckoning force in the completion of the task, she noted, had been the “task force members who immediately lent their assistance for this cause.
NEA said a subsidy grant of P51.1 million has been released to the Davao Oriental Electric Cooperative Inc. (Doreco), which enabled the power utility “to continue the power restoration and distribution line rehabilitation” for the specified barangays.
Bueno said power restoration works were completed with the joint efforts of 126 engineers and linemen from Doreco and 11 other electric cooperatives in Mindanao.
The electric cooperatives which assisted in the power restoration include those in Surigao del Sur, Surigao del Norte, Agusan del Sur, Misamis Oriental, Davao del Sur, Agusan del Norte, South Cotabato and Sultan Kudarat.
Your email address will not be published.
We will be glad to publish your opinion and relevant information you would like to share with our readers in our comment section. We do not however publish ad hominem criticisms, vulgar language, and off-topic comments. The views expressed in this comment section do not necessarily reflect that of the Manila Times’ editors and stockholders.
Can't find your comment? Please check our comment guideline.
Contact InfoAddress: 2/F Sitio Grande Building 409 A.
Email: email@example.com firstname.lastname@example.orgCopyright © 2010-2013 The Manila Times - All Rights Reserved.
Coin display cases plans
Centennial bible delta sigma theta
Debby ryan what her favorite serial
Humor bhs inggris
Gazebo birdfeeder plans
Lexapro zyrtec interaction
Contremporary chair rails
Objective statement resume pharmacy technician
Clan name generator for trickshot clan
Female estim movies
Pictures of comanche teepees
Farewell dinner for coworker invitation
Extreme cbt tube
Music writing stationary
Where is marijuana lega
Mother in law sissification stories
Woman and pram cad block
Funny running group names
Nephrostomy tube care plan
Thoughtful diy valentines gifts
Ovulation pain all day with clomid vulation pain all day with clomid
Fantasy football names about the dallas cowboys
Sister jacking off pics
Download line terbaru for blackberry offline
Babe station slip
Imagenes de happy birthday gratis
Funny sorority nicknames
Derrick rose girlfriend dana
Nigeria heroin smugglers
Good saying to put on a football poster
Printable images of plants and zombies
Tumblr florian boymodelumblr florian boymodel
Answers to m500 nko
Missouri alcohol laws
Lusi ladyboy video
World war one newspaper template
Property bros drew and jonathan scott
Excuse letter for work loose bowel movement
German shepherf mastif mix
Oil rig resume sample
Foster parent letter of recommendation
Diflucan one for men
Reese engineering nz
Aim high running camp
Angel blade script
Prescribed oxycodone but opana showed up on urine test
Long term care nursing rehab template
Pics of women in blouse alone
Mothers masturbating their daughters
Cancer man gemini woman relationship
Congratulations card minister installation
Twriting profiles for dating sites
Letter to school for holiday
Showing motivation in a thank you letter after interview for medical
Pictures hiv related rashes
Nims 701a answer
Examples of thank you letter for nurses aid position
Letter to employee to increase pay rate
Cure marijuana plants quickly
Is 701a answers
Will a 40 mg oxycontin op get you high if swallow
Happy birthday to you fancy font
Xanogen male enhancement hgh factor
Ricky lee bretherton birthday
Honor roll certificate template
Cursive tattoo font generator
Oovoo for ps3
Antivirus para win mobile gratis
Victoza weight loss extreme
Semarang indah layout
Inspiron b130 laptop ebay
Maths for esl
John persons shemaleohn persons shemale
Good sports bets with boyfriend
Coloring activities relationships
Ncoer bullet comments
Funny angry letters
Medical marijuana growing laws
I want to malayalam kambi stories
Free regcure torrent
Flow the dot to dot game
Firefox download koc cheats
Usernames examples dating profiles
Frye boots freeport maine
Weight watchers easy lunch recipes
Diy small metal animal shelter kits
Informasi nomor togel yang keluartahun 2010
Mam jerks son
Sample business plan for a clothing store
Fotos de grandes vulva
Tummy tuck belt reviews does it work
Follow up letter after sending resume
Finger sponge taxonomy
Bookkeeper entry level ad examples
Copy and paste symbols horses
Chanel west coast laugh ringtone
Entry level criminal justice resume sample
Espin codes for orbit