ADPR 2000000$ financing news just out!!!!
AdSouth Partners Receives $2 Million Receivable Financing Facility
BOCA RATON, Fla., Sep 27, 2004 (BUSINESS WIRE) -- AdSouth Partners, Inc. (ADPR) is pleased to announce that it has recently closed on a financing facility which provides the Company with up to $2 million of receivables financing for a period of one year. AdSouth's CFO, Lee Wingeier stated, "This facility solidifies our working capital position and greatly enhances our ability to fulfill our product commitments to our retail customers throughout the fourth quarter and beyond."
John Acunto, the Company's Chief Executive Officer, provided a limited personal guarantee in connection with the financing facility. John Acunto stated, "This financing enables AdSouth to begin laying the foundation of continued growth in the products division and will allow the Company to continue to support its sell through of the Dermafresh product which is now being sold in approximately 7,000 retail stores across the country." "This financing enables us to fulfill current retail customer demands as well as fulfill future retail customer demands," he added.
