EXPH - the press release issued in june was also very positive. "there are no convertible debentures. encouraging shareholders to visit their facility." very nice. here it is:
NORTH WILKESBORO, NC -- (Marketwire) -- 06/29/09 -- Expo Holdings, Inc. (PINKSHEETS: EXPH) issues clarifying statement regarding debt restructuring.
Shareholders have requested clarification of an earlier Press Release dated June 24, 2009, Titled "Expo Holdings completes debt restructuring." The following statement from the CEO should clear up questions regarding its restructured debt.
James Brown, CEO, stated, "We have restructured nearly $400,000 worth of our short term loans with Wachovia Bank and Southern Community Bank into long term notes with the same entities. There are no convertible debentures. No shares have been or will be issued in regards to this debt.
The rates are favorable and we appreciate the continued willingness of each bank to fund us, even after experiencing a tough year like last year. We anticipate continued good relations with each bank now and in the foreseeable future."
Additionally, Brown stated, "We also continue to enjoy a great relationship with Crestmark Bank. We operate and use a 1M credit facility with them.
The company expects to use this line heavily in mid to late 2009 funding its anticipated accelerated growth plan."
Shareholders are always welcome to visit. Please contact us at 336-667-8765 and make your arrangements to visit.
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