PDCI - GREAT NEWS....
PDC Innovative Industries Inc. Accepts up to $1,750,000 From Institutional Lender
CORAL SPRINGS, Fla.--(BUSINESS WIRE)--Aug. 14, 1998--By agreement
with Power Media Group Inc. of Arlington Heights, Ill., PDC Innovative
Industries (BB:PDCI) accepted the terms which allows the company to
use up to $1,750,000, within a period of 90 days, at the option of the
company. The first transfer of funds was accomplished on Aug. 13, this month. Additional cash infusions were being arranged by officers of both companies today.
The company announced it has already ordered raw materials and tooling needed for production immediately. Major retail chain representatives have provided verbal commitments of acceptance for the proprietary dial level products only available from PDC Innovative Industries Inc., Coral Springs.
A prominent distributor from the midwest who will be named later
has agreed to represent the company products in important retail
stores in the U.S., Canada, Europe and Australia.
PDC CEO and Director David Sowers stated the company should have
the first products off the assembly line within the next 90 days for
delivery against order.
--30--cp/mi*
CONTACT: PDC Innovative Industries Inc., Coral Springs
Mike Hiler
954/341-0092, Fax 954/341-5361
KEYWORD: FLORIDA
INDUSTRY KEYWORD: RETAIL |
