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Friday, October 24, 2008 3:19:47 PM
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The company was able to secure both traditional bank financing and debt financing through the issuance of a promissory note that bears interest quarterly. This financing allows the company to cover all of its current capital requirements. The funds were raised to bridge the accounts receivable from its recent acquisitions.
In order to build shareholder value, the company will not pursue any additional equity financing for expansion until it has achieved a sufficient market cap to support additional growth. This is to insure that any future additional equity issuance would be accretive to current shareholders.
Graham Williams, Bederra Corporation CEO, stated, "Our recent financing activities have satisfied our current capital needs. As new developments are announced and our financials are released, we expect the investment community to recognize that we are severely undervalued by the current market. Our accountants are finalizing our financials. As soon as they are completed we will release them to our shareholders."
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