To: Joe Copia who wrote (15204 ) 5/6/1999 9:37:00 AM From: Due Diligence Read Replies (2) | Respond to of 25711
AWTE news: (COMTEX) B: Allwest Systems International, Inc. Receives $2.5 Million B: Allwest Systems International, Inc. Receives $2.5 Million Line of Credit DENVER (May 6) BUSINESS WIRE -May 6, 1999--Allwest Systems International, Inc. (OTCBB:AWTE) today announced that they have received a $2.5 million line of credit from KBK Financial, Inc., a Ft. Worth, Texas asset-based lender. The company paid off their prior line of credit, and the balance of $500,000.00 will contribute to working capital needs. "Not only does this new line improve our working capital, but will save us $180,000.00 per year in interest costs," stated Steven Pickett, Chairman and CEO of Allwest. Allwest Systems International, Inc. is a holding company for the Allwest group of companies with annualized sales of $11.0 million. The Allwest group is committed to providing integrated life safety systems, which include fire, security, and sound systems for commercial and public facilities such as hospitals, schools, prisons, and military bases. Founded in 1953, Allwest Systems International, Inc. has seen a 500% increase in revenues since Steve Pickett became CEO in 1990, growing from $1.8 million to $11.0 million in annual revenues. See our web page at www.allwestsystems.com. Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors. -0- djm/dx* CONTACT: Allwest Systems International, Inc. Steven Pickett, 303/293-2345 KEYWORD: COLORADO TEXAS INDUSTRY KEYWORD: GOVERNMENT COMPUTERS/ELECTRONICS COMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of story ***