To: Lonnie who wrote (3616 ) 3/17/1998 8:45:00 PM From: Andrew Q. Viet Respond to of 7054
I didn't write the song. It was a repost. patent: [ Yahoo | Write Us | Search | Headlines | Info ] [ Business - Company - Industry - Finance - PR Newswire - Business Wire - Quotes ] Monday August 25 6:29 PM EDT Company Press Release Actrade Receives Notice of Allowance of Patent Financing Method Incorporates New Use of Tads with Huge Market Potential NEW YORK--(BUSINESS WIRE)--Aug. 25, 1997--Actrade International, Ltd. (NASDAQ:ACRT), creators of the innovative TAD Program, announced that on August 20, 1997 the Company has received from the United States Patent and Trademark Office a notice of allowance of the Company's pending patent application for a ''Financing Method Incorporating New Use of Trade Acceptance Drafts.'' Amos Aharoni, CEO stated, ''We are elated to have received this notice of allowance. Our TAD Program has been extremely well received by companies of virtually every size. Step-by-step, the whole market will recognize the benefit of using our TAD Program as a tool for marketing, financing and collection. As our experience expands so do our estimates of exactly how huge the potential market for TADs actually is.'' Actrade International, Ltd. is the parent Company with two operating divisions. Actrade Capital, Inc., serving as the financial services division, engages in the discount purchase of 60 - 180 day commercial Trade Acceptance Drafts through its proprietary Trade Acceptance Draft (TAD) Program. The TAD Program, initially targeted for the domestic market, offers a new, innovative financial service. It allows suppliers (Sellers) of products and services to sell to other businesses (Buyers), on special terms including up to six monthly installments. Actrade Capital will purchase and process these payments. The TAD Program can also be used in addition to current, existing credit lines. It requires no liens or UCC filings and decreases the hassle and paperwork involved with collecting accounts receivable. Actrade International, Corp. functions as the export arm for twenty U.S. based companies with distribution channels in over fifty countries and its wholly owned subsidiary, Actrade S.A., serves as the international trade division concentrating on selling foreign goods in foreign countries. The matters discussed in this press release contain forward looking statements that involve risks and uncertainties which are described in the Company's SEC reports, including the 10-K for the period ended June 30, 1997. Contact: Actrade International, Ltd. Mitch Menik, 212/563-1036 ext. 239 More news for referenced ticker symbols: ACRT, and related industries: banking. Help Copyright c 1997 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form. Important Disclaimers and Legal Information Questions or Comments?