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Incentra Solutions Announces Extension of Preferred Stock Redemption Date

2008-08-14 05:00:00

    BOULDER, Colo., Aug. 14 /EMWNews/ -- Incentra Solutions,

Inc. (OTC Bulletin Board: ICNS), a provider of complete IT services and

solutions to enterprises and managed service providers in North America and

Europe, today announced that it has reached agreement with the holders of

its Series A Convertible Redeemable Preferred Stock (Preferred Stock) to

extend the earliest possible date for redemption to January 1, 2010.

Redemption of the Preferred Stock on that date is optional at the

discretion of the holder. The optional redemption date was originally

scheduled for August 18, 2008.

    Incentra and the holders of the Preferred Stock also agreed to a

dividend of 6 percent per year, accruing daily, from August 19, 2008

through February 18, 2009, and 12 percent thereafter through December 31,

2009. However, in the event any shares of the Preferred Stock are converted

to shares of common stock prior to February 19, 2009, those shares of

Preferred Stock will not be eligible for dividends.

    All other terms associated with the $31,200,000 of Series A Convertible

Redeemable Preferred Stock remain unchanged and can be found in the

Company's filings with the Securities and Exchange Commission.

    About Incentra Solutions, Inc.

    Incentra Solutions, Inc. ( (OTC

Bulletin Board: ICNS) is a provider of complete IT services and solutions

to enterprises and managed service providers in North America and Europe.

Incentra's complete solution includes managed services, professional

services, hardware and software products with the Company's First Call and

Enhanced First Call support services, IT outsourcing solutions and

financing options.

    Incentra Solutions Forward Looking Statements

    Certain information discussed in this press release may constitute

forward-looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995 and the federal securities laws. Although the

Company believes that the expectations reflected in such forward-looking

statements are based upon reasonable assumptions at the time made, it can

give no assurance that its expectations will be achieved. Readers are

cautioned not to place undue reliance on these forward-looking statements.

Forward-looking statements are inherently subject to unpredictable and

unanticipated risks, trends and uncertainties such as the Company's

inability to accurately forecast its operating results; the Company's

potential inability to achieve profitability or generate positive cash

flow; the availability of financing; and other risks associated with the

Company's business. For further information on factors which could impact

the Company and the statements contained herein, reference should be made

to the Company's filings with the Securities and Exchange Commission,

including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and

Current Reports on Form 8-K. The Company assumes no obligation to update or

supplement forward-looking statements that become untrue because of

subsequent events.

Contacts for Incentra Solutions: Allen & Caron Inc Incentra Solutions, Inc. Jill Bertotti (investors) Anthony DiPaolo [email protected] Chief Financial Officer Len Hall (financial media) [email protected] [email protected] (720) 566-5000 (949) 474-4300

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Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

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