The
One World Doll Project, a subsidiary of One World Holdings, Inc., announced
recently it has in hand a private equity deal with New York hedge fund,
Blackbridge Capital and a group of private investors necessary for focusing on
debt reduction and boosting the appeal of the company’s balance sheet. The
partnership is said to infuse approximately $800,000 with the effort.
Joanne
Melton, CEO of One World Holdings noted, “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.” Commenting further, Melton
added, “By the end of the 3rd 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.”
Alexander
Dillon, Co-Founder and Chief Investment Officer of Blackbridge Capital
commented, “We are thrilled to partner with One World Holdings while enhancing
their balance sheet, increasing shareholder value, and providing advice on
business plan execution. 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.”
Founded
four years ago by Trent T. Daniel and Stacey McBride-Irby, The One World Doll
Project is focused on making a positive cultural impact through the creation,
marketing and sales of their dolls. Each of the company’s dolls are considered
to be unique works of art, created for a growing market clamoring with demand.
The company’s dolls embrace contemporary girls of several races and symbolize
the women they aspire to be. The One World Doll Project has launched The
Prettie Girls!™ doll line, a collection of multi-cultural fashion dolls. The
Prettie Girls!™ are unique in their look, their backgrounds and their stories,
embodying the look, feel and values little girls look up to.
For
more information on the company, visit www.oneworlddolls.com
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