Unisphere Waste says misses interest payments on debenture

By Sheri Kasprzak

Atlanta, Feb. 1 - Unisphere Waste Conversion Ltd. said it did not make the C$625,000 interest payment due Jan. 31 to debenture holders.

The company also said it has no intention of paying a principal amount of C$1 million or C$150,000 in interest payments due Feb. 2.

Unisphere said in a statement it plans to have discussions with the debenture holders regarding the principal and interest payments. The company will also have a special shareholders' meeting on May 6.

Unisphere chief executive officer John Wypich did not respond to requests for comment on the matter by press time Tuesday.

Based in Toronto, Unisphere is an environmental company focused on tire recycling.

On Tuesday, Unisphere's stock closed down C$0.035 at C$0.095.

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