thank you to all who backed up my statements today on the actual events in the hg chronological order.
i have been vacationing and am sure this was posted, but we are now looking at 7 million from ntop and another 7.5 million from eglo. seems idtc is putting some money in the bank for what?
July 7, 1999
Dow Jones Newswires
EGlobe Gets $20M Debt Financing From Shareholder
WASHINGTON -- EGlobe Inc. (EGLO) completed the sale of $20 million in three-year, 5% secured notes and attached warrants to EXTL Investors LLC, eGlobe's largest shareholder.
In a press release Wednesday, eGlobe said it will use the financing to repay a one-year, $7 million loan that was a bridge to the full facility, and to repay $7.5 million in debt to IDT Corp. (IDTC). The company will use the rest of the financing to expand Internet protocol trunks and Intelligent platforms, as well as for working capital and general corporate purposes.
The company's shares recently traded at 2 31/32, down 1/32, or 1.0%, on volume of 83,100 shares. Average daily volume is 131,463 shares.
EGlobe, formerly known as Executive Telecard Ltd., provides telecommunications services.
-Jay Miller; 201-938-5400
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