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| TXTM Breaks Through Resistance Up Over 30% |
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 Hot Stock to Watch |
Company: Protext Mobility (OTCQB: TXTM)
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Last:
Price: 0.0059
Change (%): + 0.0014 (31.11)
Volume: 1,990,103 |
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Protext Mobility Issues Corporate Update
Company Adds Award-Winning Auto Dealer to Expanding Network of Distributors; Repays and Retires 100% of Convertible Notes Held by Asher Enterprises
DELRAY BEACH, FL--(Marketwired - May 22, 2014) - Protext Mobility (OTCQB: TXTM), a developer of innovative and trusted applications for the mobile communications market, today announced that the Company has continued its exponential growth within the auto dealer market with the addition of East Hills Chevrolet in Douglaston, NY. East Hills has been named Chevrolet Dealer of The Year in the NY area by Dealer Rater for the past two years, and will now be marketing and selling Protext's distracted driving solution to its customers. The Drive Alert product provides users with the ability to block the use of certain mobile device activity in equipped vehicles while in motion -- particularly text messaging, the mobile internet, email and social media activities -- including taking and posting "selfies" to social media.
"Our nation is in the midst of a safety crisis when it comes to distracted driving. We are pleased that the auto dealer industry not only recognizes the need for our solution, but also is embracing DriveAlert as THE product to answer that need. East Hills Chevrolet is an award-winning auto dealer, and we are proud to be partners with a company that is so dedicated to the safety and satisfaction of their customers," Mr. Berman went on to say.
The Company is also pleased to announce that it has repaid and retired 100% of convertible notes held by Asher Enterprises, Inc. in principal amounts totaling 47,393 dollars. Including accrued interest and contractual buyout provisions the debt was officially retired for 65,000 dollars. Therefore, there will be no more conversions owed to Asher in conjunction with these notes and the corresponding debt has been removed from the Company's balance sheet. "Management is committed to advancing the financial health of our Company in a sustainable manner, and removing this debt is an important milestone toward that end," concluded Mr. Berman.
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