Energy Edge Technologies Corporation to Acquire 100% of Dutchess' Equity in Union Dental Holdings, Inc.
CORAL SPRINGS, Fla., July 31, 2012 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) www.uniondental.com/ir -- a provider of multi-state dental services for union members, announced today it was informed by Energy Edge Technologies Corporation (OTC:EEDG) they had entered into a definitive agreement with Dutchess Private Equities Fund, LTD to purchase all of the Dutchess shares of equity, including all warrants in UDHI.
In 2005 UDHI completed and filed a registration statement with the Securities & Exchange Commission for a convertible Debenture and a Senior Note which was all converted into equity via shares of stock and a warrant at a later date. This initial financing was considered by many in the financial industry as "toxic financing" or "Death Spiral Financing" for micro cap stock companies who were trying to build their business models but could not obtain financing in any other manner for their company to go forward other than through the P.I.P.E. (Private Investment in Public Entity) type of financing.
