IRVINE, CA - (NewMediaWire) - September 28, 2015 - RAMOIL MANAGEMENT, LTD. (OTC PINK: RAMO) has announced that they have reduced long term debt by almost 20%. The reduction amounts to more than $200,000 being removed from its liabilities, according to their most recent balance sheet.
The decision to remove debt has been a long time coming, according to Ramoil CEO, Jeremy Foti, "I have been focusing on ways to unburden ourselves of this debt, since I took the helm three months ago." The payment of this debt will begin the retirement of all the long term debt from Ramoil's balance sheet. "We are thrilled that we were able to pay this off without having to increase float or issue new shares. This development will build significant value for our shareholders, free up our ability to respond to opportunity, and put our operational plans on the fast track to net profit," Foti concluded.
Ramoil's recent announcements reveal an ambitious operational plan that include the planned acquisition of a distribution hub, production and distribution of products generated by its recently acquired Supercritical CO2 extraction machine, partnerships to distribute non-proprietary products that will be announced soon, according to Ramoil Vice President, Geoffrey Broderick. "Ramoil has been active in discussions that will bring several products to market under our umbrella," Broderick said, "the retirement of this debt will fuel the most exciting phase of our development." Broderick alluded to upcoming announcements he says will include, "new product lines, partnerships, and the new corporate name."
ABOUT Ramoil Management, Ltd.
Ramoil Management, Ltd. (RAMO) focuses on the development of innovative products that supply the medical, research, and pharmaceutical industries. The company is additionally establishing domestic and international partnerships with businesses that develop and sell proprietary consumer products and services related to the social marketing sector of the legal cannabis industry. Product lines for the consumer, music and entertainment sectors are in development.
Forward Looking Statements: This news release contains forward-looking statements made by RAMOIL MANAGEMENT, LTD. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward- looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products of the Company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. The Company is not entitled to rely on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 because it is not registered under either Act.