NEW YORK, Nov. 22, 2006 (PRIMEZONE) -- Advanced Plant Pharmaceuticals, Inc. (OTCBB:APPI) announced today that the company has made significant progress in reducing debt. The company has negotiated with many of its debtholders to accept equity to retire the majority of the outstanding debt.
David Lieberman, CEO of Advanced Plant Pharmaceuticals, said. "We are very pleased to have retired more than $1.5 Million in debt to date. In addition, we are experiencing a great deal of success in negotiations with our remaining debtholders to accept our equity as payment for the remaining debt. We look forward to advancing the company's new business plan and building shareholder value. Debt reduction is an integral part of our plan to enhance our financial flexibility as we build the company."
To be added to APPI's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@advancedplantpharm.com.
About Advanced Plant Pharmaceuticals, Inc. (http://www.advancedplantpharm.com)
Advanced Plant Pharmaceuticals, Inc. (APPI) focuses on the research and development of whole plant-based nutritionals. The company has a composition-oriented patent for a proprietary process of utilizing whole plants to safely manufacture all-natural nutritional supplements. APPI markets and distributes its line of products including Lo-Chol(tm) worldwide through various sales distribution channels.
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