Wednesday, September 29, 2004 4:07:20 PM
Approved for $15,000,000.00 Loan
Energy Editors/Business Editors
DALLAS--(BUSINESS WIRE)--Sept. 29, 2004--CDC Systems Inc. (Pink
Sheets:CUPY) previously announced its intention to do a 4-for-1
forward split of the Company's common stock. The effective date for
the forward stock split will be Oct. 8, 2004. All stockholders that
own the stock on or before Oct. 8, 2004 will be involved in the
4-for-1 forward stock split.
CDC Systems Inc. has been approved for a $15,000,000.00 loan.
This loan will be used to manufacture the large number of compressors
that will be required for the next 24 months of operation. This loan
will not involve any stock being issued and will be based solely on
the full faith and credit of the Company.
CDC Systems Inc. announced yesterday $1,114,000.00 annual revenue
figures generated from 55 compressors. This represents $4,100,000.00
in assets deployed to the field.
CDC Systems Inc. has developed innovative highly efficient
natural gas compressors to convert marginal, non-profitable wells into
profitable producers. The market of marginal wells number 225,000
nationwide and is growing 10,000 to 15,000 every year. The products
produced by CDC Systems not only tackle the marginal market, but are
well suited for the market commonly focused on by most compressor
companies being the newly drilled wells numbering approximately 25,000
for 2004 and growing every year.
Matters discussed in this press release are "forward-looking
statements." Statements describing objectives or goals or the
Company's future plans are also forward-looking statements and are
subject to certain risks and uncertainties, including the financial
performance of the Company and market valuations of its stock, which
could cause actual results to differ materially from those
anticipated.
--30--AA/ho*
CONTACT: StockComm, Houston
Corporate Communications Department
Patrick Arnett, 281-999-7721
KEYWORD: TEXAS
INDUSTRY KEYWORD: MINING/METALS ENERGY OIL/GAS
SOURCE: CDC Systems Inc.
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
Sep-29-2004 20:01 GMT
Symbols:
US;CUPY
Source BW Business Wire
Categories:
MST/I/MNG MST/I/OIL MST/I/OIS MST/L/EN MST/R/US/TX TGT/BWN
Art's Bored
#board-9480 - Sign up for email ALERTS.
FEATURED Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • Apr 25, 2024 8:52 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM