ReleaseWire

Investor News Source Feature Stock: Michael James Enterprises, Inc (OTCQB:MJTV) Is Pleased to Report That It Has Eliminated More Than $1,000,0000 of Debt and Liabilities

CEO James M. Farinella is in the process of retiring 8.7 million common shares from the outstanding as was previously announced

Posted: Friday, January 20, 2017 at 7:18 AM CST

Rochester, NY -- (ReleaseWire) -- 01/20/2017 --Investor News Source Featured Company, Michael James Enterprises, Inc. (OTCQB:MJTV) is pleased to report that it has eliminated more than $1,000,0000 of debt and liabilities with the spin off of BullsNBears Holdings, Inc. on December 27, 2016.

As part of the proposed merger agreement which was not concluded, certain assets and liabilities were to remain with BullsNBears Holdings, Inc. The parties agreed that despite the merger not occurring, it was in the best interest of MJTV to continue with the spin out provision. The issuance of any dividend shares, as contemplated in the agreement, is the responsibility of the management of BullsNBears Holdings, Inc. This continues and now finishes the clean up of certain capital and capital structure that the current management had undertaken. CEO James M. Farinella is in the process of retiring 8.7 million common shares from the outstanding as was previously announced.

MJTV CEO James M. Farinella stated, "I am extremely pleased to have the spin off behind us and now all focus can be on building our business. I now strongly believe that we have the capital structure in the best position possible for building shareholder value moving forward."

Safe Harbor Statement
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

CONTACT INFORMATION:
Michael James Enterprises, Inc.
760 Route 10 West, Suite 203
Whippany, NJ 07981
908-204-0004

Disclaimer:
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. INS Consulting which owns http://www.InvestorNewsSource.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. INS Consulting which owns http://www.InvestorNewsSource.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Please check the disclaimer on the company website for more details.