Redfin Network, Inc.(fka RFNN)

[MobileMadMan]

NEWS...


8-K Filing


Form 8-K for REDFIN NETWORK, INC.


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1-Nov-2012

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On October 26, 2012, RedFin Network, Inc. closed a Senior Secured Revolving Credit Facility Agreement (the "Credit Agreement") with TCA Global Credit Master Fund, LP, a Cayman Islands limited partnership ("TCA") which had an effective date of September 30, 2012. Pursuant to the Credit Agreement, TCA agreed to loan us up to a maximum of $3 million for working capital purposes. The initial credit line of $350,000 was funded by TCA in connection with the closing. Any increase in the amount of the credit line from the initial amount up to the maximum amount is at the discretion of TCA.

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Seems as though they are consolidating debt and building their working capital!


This is very good!!!