SCKT...new bank line of credit approved. The 8K came out today after the market closed. The amount($)the can borrow is the same as before ($1.5M domestic sales, $1M international). I confirmed it with the CFO and the new interest rate is Prime, 3.25% + 1.5% + some additional fees. The net of it is 7% vs closer to a 13% rate that they got before from Silicon Bank.
I do know that there is a research report coming out in May on the company and they are going to start to present at more investor conferences after that. Also, look for press releases to start to flow more regularly in about a month.
With the stock at a $1, it's obvious that the negativity about this company has lessened. It's still a long way from being positive. They need to show that all these "trials" for scanners are going to turn into revenue. We'll see. If I was a new investor I might even be excited, but it's going on 3 years now and this has been a tiring investment to say the least. Thankfully other investments keep my spirits up.
Dave
