Today
before the opening bell, One World Holdings reported a development regarding
its subsidiary, The One World Doll Project. The One World Doll Project recently
entered into an $800,000 private equity partnership with New York-based hedge
fund Blackbridge Capital and a group of private equity investors who will focus
on debt reduction and balance sheet enhancement.
“Over
the past 18 months, the company has taken on several large convertible notes
that have had the unfortunate effect of creating derivative liabilities on our
balance sheet and downward pressure on our stock price as a result of
simultaneous conversions of those notes into stock at a substantial discount to
market,” stated Joanne Melton, CEO of One World Holdings. “By the end of the
third quarter we will have consolidated and eliminated several of our most
expensive institutional and private convertible notes totaling over $415,000.
The purpose of this initiative is to phase out at least 50% of the total
company debt by the end of 2014,” she added.
“We
are thrilled to partner with One World Holdings while enhancing their balance
sheet, increasing shareholder value, and providing advice on business plan
execution,” said Alexander Dillon, Co-Founder and Chief Investment Officer of
Blackbridge Capital. “We are also extremely proud of the diligent efforts of
the One World management team as we work together to eliminate derivative
liabilities and secure key business development milestones, including the most
recent achievement of locking up a premier spot at Toy Fair 2015 where the
company will unveil its new line of Prettie Girls! dolls created in partnership
with Robert Tonner and The Tonner Doll Company.”
Established
in 2010, The One World Doll Project endeavors to make a significant positive cultural
impact through the doll category. The company’s beautiful dolls are unique
works of art, created for a growing market yearning for something unique to
experience — a doll that both embraces contemporary girls of many races and
symbolizes the women they can become.
The
One World Doll Project has created The Prettie Girls!™ dolls, an exciting line
of multi-cultural fashion dolls, years in development, recently launched in the
marketplace. The Prettie Girls!™ are unique in their look, their backgrounds,
and their stories, and The One World Doll Project has signed agreements with
Toys “R” Us and other important retailers for extending their market
availability.
For
more information, visit www.oneworlddolls.com
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