STUART, Fla., Sept. 16, 2016 (GLOBE NEWSWIRE) -- CPSM, Inc. (OTCQB:SWMM) the Florida based pool & spa industry aggregator today closed on the sale of its former headquarters property reducing its debt load by over 26%.
CPSM, Inc. sold its former headquarters in Palm City, Florida. The proceeds reduced the Company’s debt by more than 26% resulting in a Debt to Total Assets ratio of 0.44 to 1.
Lawrence Calarco, Chairman of CPSM, Inc. commented, “Growth is vital and to date we have continued at fervent pace. Growth alone however, does not make for a healthy company. We have managed to keep expanding while reducing our debt by a substantial amount. Fiscal restraint and prudent leverage are the hallmarks of a successful, sound and lasting company.”
CPSM, Inc. is a publicly held company serving the surging pool/spa maintenance, design, and construction industry.
Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.