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Monday, September 10, 2007 3:55:58 PM
18% interest or you could take stock instead. 18% is alot to just blow off I wish I could make 18% every year!! Well, these investors chose stock!! That should scream BUY to anyone with ears.
Health Discovery Corporation Receives $2.1 Million Cash Investment and Effects Debt Conversion
Monday September 10, 3:40 pm ET
SAVANNAH, Ga.--(BUSINESS WIRE)--Health Discovery Corporation, Inc. ("HDC") (OTCBB: HDVY - News) today announced that it has closed an equity investment totaling $2.1 million with a financial institution and other accredited investors. As a sign of confidence in the company's direction and business prospects, each outside director also participated in this financing. In addition, HDC announced that a total of approximately $2.1 million of its previously issued secured debt will be converted into equity.
"This financing is a major success for HDC particularly in light of today's highly volatile capital markets," said Stephen D. Barnhill, M.D., HDC's Chairman and CEO. "The combination of new cash proceeds and the conversion of this debt results in an increased equity base of about $4.2 million for HDC. Our strengthened financial position allows us to focus on executing a business plan that features more biomarker discoveries, licensing and development opportunities, and continued enhancement and protection of our valuable patent estate. And, very importantly, I think the breadth of experience of many of our new highly sophisticated investors could be an especially useful resource for developing new business opportunities and increasing investor awareness of our potential."
Savannah-based Health Discovery Corporation (OTC BB: HDVY - News) is uniquely positioned in the field of pattern recognition technology. Through the application of its patent protected technology, HDC is a biology-oriented biomarker discovery company providing all aspects of First-Phase Biomarker Discovery(sm). The Company's SVM and other pattern recognition tools have significant application potential in other sizable commercial markets such as radiology, Internet search and spam, homeland security, financial futures, and other areas where analysis of large volumes of complex data is required.
This news release contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the management team of HDC believes that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove correct.
"Pumpers are like hookers it all sounds good until you get burnt....don't believe the hype it's pennyland!!"
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