STARBASE (SBAS)- InfoWorld Hot Product Review Message Board

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Technology Stocks : STARBASE (SBAS)- InfoWorld Hot Product Review

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To: Roy F who wrote (1465)	4/30/2002 8:27:31 AM
From: JakeStraw	Read Replies (2) of 1502

Starbase Secures $4 Million Credit Facility biz.yahoo.com SANTA ANA, Calif., April 30 /PRNewswire-FirstCall/ -- Starbase Corporation (Nasdaq: SBAS), the leading provider of end-to-end collaborative products for the development and management of code and content for enterprise and eBusiness applications, today announced that it has established a four million dollar credit facility with Silicon Valley Bank. This borrowing facility provides working capital for the Company as it continues to implement the planned reorganization and turnaround that began in January 2002. "Working to improve the financial outlook here at Starbase has been a priority for me as well as my team," stated Jim Harrer, president and CEO of Starbase. "Having access to additional cash, if we need it, helps to establish a higher level of confidence with our enterprise customers and shareholders by strengthening our balance sheet. Along with the other steps we have taken since January -- a reduction in headcount, continued reductions in operating expenses and the changes in our executive staff -- establishing this facility completes another step in the Starbase turnaround."

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