Spectrum Global Solutions eliminates $500,000 of convertible debt

By Rebecca Melvin

New York, June 3 – Spectrum Global Solutions Inc. said it has eliminated $500,000 of convertible debt, according to a company release.

The convertible debt was eliminated as part of a package of initiatives including cost-cutting measures, according to the release.

“The elimination of toxic debt, the tightening of our belts, and the strengthening of our balance sheet, is an ongoing focus for the company and will continue to be so as we manage through these trying times,” Spectrum’s chief executive Roger Ponder stated in the release.

Based in Longwood, Fla., the company bundles communications and energy services and provides technology products.

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