FLD Corp., the largest creditor of American Soil Technologies, Inc. in Pacoima, has converted $653,000 of debt to the company’s common stock. FLD’s largest shareholder, Louie Visco, is American Soil Technologies director and board chairman. “Mr. Visco continues to demonstrate his confidence in the future of American Soil Technologies by converting debt to common shares,” said Carl Ranno, the president and chief executive officer of American Soil Technologies. “A conversion of this sizable amount of debt to equity should have a very positive impact on the company’s balance sheet that will be beneficial in terms of the future of our company.” American Soil Technologies develops, manufactures and markets cutting-edge technology that decreases the need for water in agriculture and other plant-growing businesses and promotes sustainable growing environments.
