CMTR-CHEMTRAK FDA OK Message Board

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Biotech / Medical : CMTR-CHEMTRAK FDA OK

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To: r q lad who wrote (989)	1/7/1998 10:00:00 AM
From: surfinSteve	Read Replies (1) of 1172

Company Press Release: $1 Million Fixed Asset Lease Credit Line Here's the link: biz.yahoo.com Here's the start of the story...check the link for the rest of it: Wednesday January 7, 9:26 am Eastern Time Company Press Release ChemTrak Establishes $1 Million Fixed Asset Lease Credit Line SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 7, 1998--ChemTrak Inc. (NASDAQ:CMTR - news) Wednesday announced that it has established a $1 million fixed asset lease line of credit with PENTECH Financial Services Inc. of Campbell, Calif. Fifty percent of the total lease line, secured by the company's assets, was drawn down on Dec. 31, 1997, under a 30 month lease. The remainder will become available during the next four months as the company reaches certain objectives. ''Funds from the credit facility will be used for general corporate purposes and to assist with the nationwide rollout of ChemTrak's recently introduced Parent's Alert Home Drug Test Service,'' said Edward F. Covell, president and chief executive officer.

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