WHIPPANY, N.J., Oct. 1, 2015 /PRNewswire/ — Pazoo, Inc. (OTC Pinks:PZOO) (German WKN#: A1J3DK), is pleased to announce that as of today, the company has completely repaid its Convertible Promissory Note to LG Capital LLC. Pazoo has had private investments in its Series C Preferred shares with conversions into common that are equivalent to one cent per share – well above the current market price. Pazoo expects be able to pay off other Notes within the next few weeks.
Payment of outstanding convertible notes will minimize any further note conversions into common stock. Pazoo management has fulfilled its promise to limit the conversions of these notes and has continued building important relationships with traditional financing sources.
As an update, MA & Associates, LLC is quickly moving forward and expects to have its Certificate of Occupancy soon for the testing lab in Las Vegas. MA has garnered several commitments from large grower operations for testing and expects to have the facility fully operational well before substantial testing demand occurs in December of this year. Delaying the facility opening until testing demand increases has saved at least $100,000 of additional operating costs. The necessary personnel additions will be made a few weeks prior to substantial testing beginning.
Pazoo CEO David Cunic commented, “We are very excited about our rapid advancements and couldn’t be more proud of our progression from a developmental stage company to a growth stage company. It’s a very exciting time and this 4th quarter will be a major milestone for Pazoo and its future prospects of revenue, growth and expansion.”
About Pazoo, Inc.:
Pazoo, Inc. is a company focused on health, wellness and safety. Our focus is to provide best-in-class laboratory testing of cannabis and cannabinoids to protect consumers from impurities, contaminants and other irregularities. Through our wholly owned subsidiaries, Harris Lee and MA & Associates, Pazoo provides industry leading laboratory testing of cannabis. Pazoo is licensed to test cannabis in Nevada, with a focus on expansion into other states. Additionally, Pazoo delivers a comprehensive array of health and wellness information on its website www.pazoo.com, and features industry experts from both the health and wellness arena and the pet industry. Lastly, our newly formed wholly owned subsidiary CK Distribution LLC, provides the marketing and sales agent for the distribution of non-controlled hemp products throughout the USA. Non-controlled hemp products are the items utilized by the industry that support grow facilities, infusion companies and dispensaries.
Safe Harbor Statement:
This update includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as Pazoo, Inc. or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.
SOURCE Pazoo, Inc.