Trutankless, Inc. Improves Balance Sheet

Rhea-AI Summary

Trutankless, Inc. (TKLS) converts $3 million in debt to equity, reducing annual expenses by $750,000. CEO Guy Newman aims to capitalize the company and align investors with brand growth.

Transforms Approximately $3 Million in Debt Conversions into Equity

PHOENIX, April 9, 2024 /PRNewswire/ -- Trutankless, Inc. (OTC: TKLS), the Company recently announced the launch of its new GEN3-series of products with design upgrades to its flagship Trutankless products. Today, the Company announces the conversion of convertible debt-to-equity by investors.

"This, and other strategic moves have reduced our future annual expenses by over $750,000.00 and are part of a plan to capitalize the company while realigning the investors to benefit from the growth of the brand," stated CEO, Guy Newman. 

About Trutankless, Inc.:

Trutankless, Inc. (OTC: TKLS) is a technology-driven developer of accessible, next-generation home automation and efficiency systems. The Company's primary products are a line of electric tankless water heaters that outperform other water heaters that are sold exclusively through to plumbing wholesale distributors and dealers. Trutankless, Inc. was founded in 2008 and is headquartered in Scottsdale, Arizona.

Please visit www.trutankless.com 

Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the release are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, risks of the key strategic sales and distribution partners ability to sell our product, and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. There is no guarantee that any specific outcome will be achieved. Past performance is not indicative of future results.

View original content:https://www.prnewswire.com/news-releases/trutankless-inc-improves-balance-sheet-302112248.html

SOURCE Trutankless, Inc.

FAQ

How much debt did Trutankless, Inc. (TKLS) convert into equity?

Trutankless, Inc. (TKLS) converted approximately $3 million in debt into equity.

What is the impact of the debt-to-equity conversion on Trutankless, Inc. (TKLS) annual expenses?

The debt-to-equity conversion by Trutankless, Inc. (TKLS) has reduced future annual expenses by over $750,000.00.

What strategic moves has Trutankless, Inc. (TKLS) recently made?

Trutankless, Inc. (TKLS) recently launched its new GEN3-series of products with design upgrades and converted convertible debt-to-equity by investors.

Who is the CEO of Trutankless, Inc. (TKLS) and what is his plan?

Guy Newman is the CEO of Trutankless, Inc. (TKLS). His plan is to capitalize the company and align investors to benefit from the brand's growth.