Rock Energy Resources, Inc. (OTCQB: RCKE) announced today that its Board of Directors had received a letter from Rocky Emery, the Company’s Chairman and CEO, forgiving the entirety of all indebtedness owed by the Company to Mr. Emery.
Mr. Emery stated, “Rock Energy Resources, Inc., owes me $1,327,500 that has been carried as liabilities on our financial statements. As a firm believer in our future, sensitive to our existing Company goals and wanting to do what is in the best interest of the shareholders, my Family and I, have irrevocably and unconditionally forgiven the $1,327,500 of Company Emery Debt in its entirety, effective today.”
Commenting on this action, Mark Harrington, Vice Chairman of the Board stated, “On behalf of the Board and our shareholders, we thank Rocky for this exceptional gesture on his part. This is an important step in moving our Company towards being debt free.”