The software development space remains one of the more attractive niches in the tech industry for investors, and it is no surprise that they are often on the lookout for prospects in that sphere. A company that could be worth tracking at this point is Ubiquitech Software Corp. (OTC:UBQU), a major player in the innovative software development space. The company was in the news cycle on Tuesday after it announced that it had been successful in eliminating $700,000 more in the form of convertible debt principal and accrued interest from the balance sheet in the second fiscal quarter.
The latest elimination brought the total reduction in convertible debt in the past 12 months to more than $1,700,000. Ubiquitech Software Corp. also announced that the final figures would be revealed in the financial statement of the company, which would be released no later than July 15, 2024. The Chief Executive Officer of the company, James Ballas, spoke about the development as well. He noted that the latest accomplishment from Ubiquitech Software Corp. was a demonstration of the continuing improvement to the balance sheet. The elimination of the latest tranche of debt and interest was another move towards improving the financial well-being of the company as a whole.
Additionally, it reduced the possibility of share dilution for the existing investors in the company. Ballas went on to note that the company continued to work on the establishment of a strong footing that could lead to the expansion and growth of Innovative Outcomes, a subsidiary it recently acquired. Innovative Outcomes is one of the quickest-growing healthcare logistics companies at this point, providing its services to medical providers and the patients of those providers across the United States. At this point, Ubiquitech Software Corp. is focused on the growth of innovative outcomes.
