Unique Pizza and Subs Corporation, a Delaware Corporation, has announced it has come to an agreement to convert 96 percent of all its debt into restricted, controlled stock.

With this agreement, $4,933,050 worth of debt will be converted into restricted stock. Unique Pizza and Subs also announces it has mutually agreed to terminate its deal to acquire Pizza Fusion.

"Converting the debt into to restricted stock removes more than 96 percent of the overall debt and is another big step in allowing Unique to grow into the worldwide publicly traded company it was designed to be," said James Vowler, president and CEO. "It is a shame we could not finalize the deal with Fusion at this time, but we wish them the best and look forward to hopefully working with them in the future."

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