ABCO Energy, Inc (OTCQB “ABCE”) Tucson, Arizona (September 17, 2019) – ABCO Energy has raised funds and retired a second convertible debt held by Power Up Lending Group, Inc prior to the time the conversion right became exercisable [“Conversion Right”] and was able to prevent imminent dilution upon conversion. It is the Company’s intent to try continue to retire the convertible notes prior to when the Conversion Right becomes exercisable where it is possible to do so. This is our second such retirement in the last two months.
ABCO has successfully arranged a line of credit for funding our construction project materials costs for large commercial projects accepted by the lender. This line of credit has already helped us overcome a number of cash shortages that required debenture funding in the past. The Company has a backlog of over $1,000,000 of commercial projects we are trying to complete before this year end.
ABCO Energy has traded on the OTCQB for over six months and has struggled to continue to fund its growth. We are now beginning to stage our Company for growth internally by utilizing, when available, our equity line of credit to sell publically registered shares of common stock, by private non-convertible note offerings and through acquisitions financed internally and through third party sources and we are hopeful that the successful implementation of these tools will be reflected in our share price .
“We are very proud of the accomplishments of the ABCO team and our consultants over the last two years and feel confident we will continue to do well for our shareholders in the very near future” said Charles O’Dowd, President, “and we are thankful to our shareholders for all of their assistance in reaching these accomplishments”.
About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solutions and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.
Safe Harbor Statement Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
Contact Charles O’Dowd via email at “email@example.com”