MIAMI BEACH, Fla., April 11, 2012 -- Divine Skin Inc. (DSKX) (OTC Bulletin Board: DSKX), a leading developer of personal-care products, announced that it closed a $1.5 million line of credit with MidCap Business Credit LLC in a move that will continue to fuel the explosive growth the company is experiencing.
Divine Skin CEO Daniel Khesin stated, "Securing the right funding to finance our growth is just one more step in the right direction as we continue to see stellar demand for our products. Having easier access to funds will allow us to capitalize on opportunities for growth without diluting our shareholders through equity financing."
Richard Mount, president and founder of MidCap Business Credit LLC, commented, "It's always exciting to see companies like Divine Skin really start to take off. We're very pleased to be working alongside Divine Skin, providing the credit that it requires to continue to expand. We look forward to a long relationship."
Khesin added, "We continue to see significant opportunities for business growth within our sector. Having a secured funding source in place allows us to focus our energies on generating sales and building the business more quickly. We are extremely excited about this new relationship we are building with MidCap."
About MidCap Business Credit LLC
MidCap provides commercial loans necessary to support growth and assist business through temporary financial setbacks. Its asset-based commercial loans range from $1 million up. Its collateral-monitoring systems, along with its senior management team's direct involvement, make available the service and working capital needed. MidCap is a true asset-based lender, whose focus is lending on the value of the borrower's assets that will secure the loan. MidCap also supports the financing of foreign accounts receivable and finances accounts receivable denominated in international currencies. The company's headquarters are located in West Hartford, Connecticut (www.MidCapCredit.com).
About Divine Skin
Divine Skin Inc. leads in the development of biotechnology for topical, nutritional, and pharmaceutical therapies. It markets worldwide through online and specialty retailers, cosmetics wholesalers, salons, and medical offices. The fast-growing company went public in 2009.
DS Laboratories, its flagship brand, offers high-performance topical solutions to restore growth and radiance to hair, suppress dandruff and unwanted hair, control acne, improve hygiene, and reduce cellulite and wrinkles. Bioavailability is enhanced through Nanosome encapsulation (www.dslaboratories.com).
The Sigma Skin brand sells through upscale retailers like Neiman Marcus in the United States and Harvey Nichols in the United Kingdom. The topical products address hair loss and other signs of aging (www.sigmaskin.com).
Polaris Research Laboratories makes high-potency minoxidil-based hair-growth formulas (www.polarisresearchlabs.com).
The Pure Guild offers purity with performance: Botanical compounds proven effective in clinical trials are extracted without industrial solvents or damaging heat and are sold through premium retailers (www.thepureguild.com).
