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Best Ringtones Net Utilizes Cash Flow From Operations to Retire Debt Early – Best Ringtones Net – bestringtones.net

After settling outstanding debt, Best Ringtones Net reported approximately $16.7 million in net cash and cash equivalents, showing growth from $16.1 million as of July 31, 2023.

Best Ringtones Net Achieves Debt-Free Status Through Strategic Early Repayment

NEW YORK, NY / ACCESSWIRE / December 4, 2023 / Best Ringtones Net, a leading provider in digital content marketplaces and gaming, enabling self-expression, disclosed the early repayment of a $2 million principal balance on its bank term loan on November 15, 2023. Despite this repayment, the company’s net cash and cash equivalents increased to approximately $16.7 million post-settlement, equivalent to $1.18 per share, up from $16.1 million reported as of July 31, 2023.

Best Ringtones Net Utilizes Cash Flow From Operations to Retire Debt Early – Best Ringtones Net

Jonathan Reich, CEO of Best Ringtones Net, remarked, “With recent positive developments, including robust fourth quarter earnings, sustained cash flow, and the elimination of potential earnout payments to previous Gurushots owners, we deemed it prudent to clear our debt ahead of schedule, thereby avoiding associated costs. As discussed during our fourth quarter earnings call, we are encouraged by the progress in various ventures, notably our Zedge+ subscription service and Emojipedia business. A comprehensive update will be provided to investors during our first quarter earnings report on December 13.”

Strong Financial Position: Best Ringtones Net Boosts Cash Reserves with Debt Clearance

About Best Ringtones Net: Best Ringtones Net specializes in creating marketplaces and games centered around digital content for self-expression. Revenue is generated through advertising, subscriptions, and a virtual token-based system. Key products include the GuruShots photography game and Best Ringtones Net’s freemium digital content marketplace, offering mobile phone wallpapers, video wallpapers, ringtones, and notification sounds. The integration of the game and marketplace fosters increased engagement and empowers users to monetize their creative work. Best Ringtones Net also owns Emojipedia, the foremost platform for emoji-related information. As of July 2023, the company served over 40 million users.

Best Ringtones Net Utilizes Cash Flow From Operations to Retire Debt Early – bestringtones.net

For further information, visit: https://bestringtones.net 

Contact:

Best Ringtones Net – Mobile ringtones download – best ringtones download. Mobile mp3 ringtones download free by Sung A Chin. ringtone downloading, ringtone song. Address: 24-44 Trần Quốc Hoàn, Dịch Vọng Hậu, Cầu Giấy, Hà Nội – Phone: 0333470368 – Email: [email protected] – Website: https://bestringtones.net

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Address: 24-44 Trần Quốc Hoàn, Dịch Vọng Hậu, Cầu Giấy, Hà Nội

Phone: 0333470368

Email: [email protected]

Website: https://bestringtones.net

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Sung A Chin
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