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Article: Healthnostics Eliminates $800,000 Debt.
Article from: Business Wire Article date: March 24, 2008 CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights or concerns about this content should be directed to customer service. (Hide copyright information)
CFO, Michael Black, Provides Financing to Secure Company's Objectives
BETHESDA, Md. -- Healthnostics, Inc. (OTC:HNSO), a medical and biotechnology analytics information and technology company, announced it is increasing shareholders' equity by eliminating all long-term debt. An infusion of $250,000 from Chairman and CFO Michael Black in exchange for 25 million shares of HNSO stock that is subject to Rule 144 which Mr. Black purchased at a premium to market, settled the $800,000 debt.
The transaction increased stockholder equity due to the investment and from the $550,000 gain on the transaction. Mr. Black purchased the shares at more than twice the current …
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