(NEW YORK)–Defense Technologies International Corp (OTC:DTII), a developer of security technologies, announces debt settlement establishing $0.01 floor on any conversions.
Debt Settlement Floor
On June 13, 2017, the Company announced it had issued 1,751,824 preferred shares to two individuals in exchange for full payment of $175,182 of debt. Each Series A preferred share is convertible into 10 shares of DTII common stock, and carries voting rights on the basis of 100 votes per preferred share on any vote of common stockholders.
If fully converted those preferred shares would come out to around 17,518,240 common shares. For the debt holders of the new preferred shares to be made whole on their $175,000 debt DTII stock would have to be trading at a minimum price of at least $0.01 to $0.02 per share, thus setting a floor on any expected conversion.
Non X-Ray Metal Detectors
The Company’s ‘Offender Alert Passive Scan™ is a ‘next generation’ walk-through detector scanning unit. Its special value comes from its passive and emits nothing through the subjects, while security scanner systems currently in utilization effectively use X-ray in some form. This patented and trademarked passive scanning system allows for detecting and identifying concealed threats, such as guns and knives etc, while offering no X-ray exposure to subjects scanned by the system.
School Market: The non X-ray feature with the Offender Alert Passive Scan™ could become a very attractive selling point, especially for places like schools where children’s health concerns are an issue.
The market potential for schools in the US alone is over 250,000. If the Company were to secure just 10% of the school market with their new non X-ray units that would equate to nearly 25,000 schools, and this in the US alone mind you. This does not take into account for international sales to schools, or other high traffic venues such as office buildings, airports, nightclubs, and sports arenas here in the US, and abroad.
As of July 2017, the Company had roughly 200 million shares issued and outstanding, and was trading under the ticker symebol “DTII”.
About Defense Technologies International Corp.
Defense Technologies International Corp (OTCQB:DTII) core ideology is to provide superior solutions for today’s new world risks and threats. DTC is positioned to enter the, until now, untapped public school market segment for threat detection security. DTC has assembled a respected team of experts with decades of experience sharing a common vision of safety, quality, service & share holder value. Team members bring to bear a broad spectrum of executive, international & corporate experience, coupled with extensive diplomatic relationships both at home and abroad. www.defensetechnologiesintl.com
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