News for the Hospitality Executive |
DENVER, CO – (September 16, 2009) – Roomlinx,
Inc. (OTC BB: RMLX), the hospitality in-room expert providing
Interactive TV products, today announced the finalization of a $1.87
million debt
conversion into common stock on September 9, 2009. The conversion eliminates all of Roomlinx’ Convertible Debt. Pursuant to the Conversion Agreement, all outstanding Debentures in an aggregate principal amount of $1,869,800 were converted into an aggregate of 93,490,000 shares of Roomlinx common stock at a conversion price of $0.02 per share. With the exception of approximately $370,000 of long-term debt, the Company is now debt free. “We view this as a strong vote of confidence from our investors, which now view Roomlinx as an equity investment”, Roomlinx CEO, Mike Wasik, commented. ”Our new equity holders have shown that they have faith in the future of our business and our continued growth plan as our business model and in-room media offering continues to pick up steam. With an improved balance sheet and reduced interest expense going forward, we believe that this transaction will provide us with additional financial flexibility to build our business and improve our value for all shareholders,” Mr. Wasik concluded. Roomlinx Interactive TV delivers HD movies and specialty content on demand, web services, global music and video, business tools, hotel, local and travel information, mobile device connectivity, games and more via the in-room LCD flat screen TV. Roomlinx offers a custom solution that is scalable with profitable business models for both limited, full, and luxury brands. Scott Schreiber, president of the Kessler Enterprise, said he was looking for "innovation that brought customers capabilities that they have not seen in other hotel rooms, or anywhere for that matter." Roomlinx stood out because it was the most innovative while remaining user friendly. Terry Alexander, General Manager of the Sleep Inn in Minot, ND said, "The technology that's tied into the Roomlinx system is amazing. Anything guests can do at home on their computer they can do in their hotel room, whether it's making a reservation at Ruby Tuesday or working on a document. The average guest spends more time on Roomlinx than using regular cable TV,” Alexander said. With the recent, continued confidence demonstrated by the debt conversion, Roomlinx continues to grow their customer base and in-room media offering to provide hoteliers with the best technology as well as provide their guests with the tools and entertainment options they want. For more information on Roomlinx, please visit www.roomlinx.com.
Safe Harbor Cautionary Statement
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Contact:
RoomLinx Media Contact: Belinda Banks SS|PR (609) 750-9110 |
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