Navigation Links
Corgenix Secures $1,750,000 Asset Based Credit Facility Representing Initial Gross Proceeds of $1.109 Million
Date:10/6/2009

DENVER, Oct. 6 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation (OTC Bulletin Board: CONX), a worldwide developer and marketer of diagnostic test kits, has announced that the company has been successful in securing a $1,750,000 credit facility providing initial funding of $1,109,000 in an asset based financing from Summit Financial Resources L.P. This financing allowed for the retirement of the company's factoring line of credit with Benefactor Funding Corp., and will be used for working capital purposes.

The agreement with Summit initially has a term of three years. Under the agreement, the company has the ability to borrow up to $1.75 million in cash secured by accounts receivable, inventory and other assets.

"This transaction, which is the culmination of many weeks of discussions with the Summit team, is a vital element in furthering the execution of our strategic plan," stated William Critchfield, Senior Vice President and Chief Financial Officer of Corgenix. "The new financing allows us to retire the existing factoring line, provides us with a fresh infusion of cash, and further provides us much greater financial flexibility and growth potential going forward."

Gordon La Haye, President & CEO of Summit Financial Resources, commented, "Summit is very pleased that Corgenix has chosen to replace their existing line with our working capital facility. We look forward to helping them achieve their growth objectives with this new, more flexible credit line." The Summit Financial Resources team was led by Renee Jackson, VP, Business Development Officer for the Intermountain Region, based in Denver.

"We have been extremely impressed by the professionalism and the very organized approach put forth by Summit," stated Critchfield. "Summit's asset size along with the broad expertise possessed by their management and lending team is very impressive. The fact that they were equally excited to have Corgenix as a
'/>"/>

SOURCE Corgenix Medical Corporation
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Corgenix Signs Technology Licensing Agreement With Japanese Government
2. Corgenix to Exhibit AspirinWorks(R) Test at ACC 2008 Meeting in Chicago
3. Corgenix Announces FDA Clearance for IgG Anti-AtherOx(R) Test Kit
4. Corgenix to Host Conference Call to Discuss Third Quarter Fiscal 2008 Results
5. Corgenix to Exhibit AspirinWorks(R) Test at ADA 2008 Meeting in San Francisco
6. Corgenix Expands Scientific Advisory Board
7. Corgenix to Host Conference Call to Discuss Fiscal 2008 Results
8. Corgenix Reports Fiscal 2008 Financial Results
9. Corgenix Receives Third U.S. Patent on AtherOx(R) Technology
10. Corgenix to Exhibit AspirinWorks(R) Test, Discuss New CHARISMA Trial Results at AHA 2008 Meeting
11. Corgenix to Host Conference Call to Discuss First Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... PETERSBURG, Russia , July 10, 2014 ... Russian Federation Dmitry Medvedev , presented ... biopharmaceutical company BIOCAD . The Company is developing ... scope of MabNext project BIOCAD develops a number of ... cancer and autoimmune diseases. The ceremony took place at ...
(Date:7/10/2014)...   Ceres, Inc . (Nasdaq: CERE ... financial results for the three months ended May 31, ... Ceres reported that the company and its customers ... season in Brazil, which concluded in June, despite dry ... areas for part of the growing season. Yields of ...
(Date:7/10/2014)... published today in the journal PNAS (Proceedings of ... time of day and sleep deprivation have a significant ... when looking at the best time of day to ... and for administering medicines effectively. , Researchers from the ... London, investigated the links between sleep deprivation, body clock ...
(Date:7/10/2014)... upside down forever. Nanophysics makes sure of that. Mechanics researchers ... published in Physical Review E . Knowledge that can ... seem to be able to sit still forever, and walk ... We will soon be able to buy smart new fasteners ... the fact is, sooner or later the grip is lost, ...
Breaking Biology Technology:Dmitry Medvedev Presented BIOCAD the First National "Industry" Award 2Ceres Announces Fiscal Third Quarter 2014 Financial Results 2Ceres Announces Fiscal Third Quarter 2014 Financial Results 3Ceres Announces Fiscal Third Quarter 2014 Financial Results 4Ceres Announces Fiscal Third Quarter 2014 Financial Results 5Ceres Announces Fiscal Third Quarter 2014 Financial Results 6Ceres Announces Fiscal Third Quarter 2014 Financial Results 7Ceres Announces Fiscal Third Quarter 2014 Financial Results 8Ceres Announces Fiscal Third Quarter 2014 Financial Results 9Time of day crucial to accurately test for diseases, new research finds 2Even geckos can lose their grip 2
... DCTH ), a medical technology company testing its proprietary ... today that Eamonn P. Hobbs, 51, a member of the Delcath ... CEO of the Company. Mr. Hobbs succeeds Richard Taney who ... serve on the Company,s Board of Directors. , ...
... genetics (Nasdaq: DCGN ) and academic colleagues from ... Nature Genetics the discovery of common genetic risk ... fair and dark complexions alike. deCODE had previously discovered five ... (SNPs) linked to risk of BCC, the most common cancer ...
... , NEW BRUNSWICK, N.J., July 3 Johnson & Johnson (NYSE: ... of its tender offer for all outstanding shares of common stock ... midnight (Eastern time) on July 2, 2009. The offer was ... Kite Merger Sub, Inc. , , The depositary for the ...
Cached Biology Technology:Eamonn Hobbs Appointed President & CEO of Delcath Systems, Inc. 2Eamonn Hobbs Appointed President & CEO of Delcath Systems, Inc. 3It's Not Just the Sun: deCODE Discovers Sequence Variants Affecting Susceptibility to Skin Cancer 2It's Not Just the Sun: deCODE Discovers Sequence Variants Affecting Susceptibility to Skin Cancer 3It's Not Just the Sun: deCODE Discovers Sequence Variants Affecting Susceptibility to Skin Cancer 4Johnson & Johnson Completes Initial Tender Offer for Cougar Biotechnology 2Johnson & Johnson Completes Initial Tender Offer for Cougar Biotechnology 3Johnson & Johnson Completes Initial Tender Offer for Cougar Biotechnology 4
(Date:7/11/2014)... at the National Institute of Standards and Technology ... work more effectively, they often prove that necessity ... the case recently for M. Lorna De Leoz ... growing specialization of glycomics. Glycomics is the study ... that are attached to proteins and lipids and ...
(Date:7/11/2014)... researchers, including scientists from the Max Planck Institute for ... major step in understanding photosynthesis, the process by which ... in its atmosphere and which is therefore crucial for ... The researchers report the first direct visualization of a ... in which a specific protein complex, photosystem II, splits ...
(Date:7/11/2014)... transplantation of mesenchymal stem cells can stimulate neurogenesis in ... Alzheimer,s disease (AD) and improve tissue and function injury ... reported on the therapeutic effect of adipose-derived stem cells ... effect on oxidative injury and neurogenesis in the brain ... School of Life Sciences, Tsinghua University, China transplanted ADSCs ...
Breaking Biology News(10 mins):A first direct glimpse of photosynthesis in action 2
... developing incontinence before middle age is determined by our ... to urinary incontinence, a study of twins at the ... Urinary incontinence is very common, especially among women, with ... life. Incontinence, overactive bladder and other lower urinary tract ...
... oxygen levels in water has applications for oil spills, ... professor at Michigan State University is poised to help ... isn,t new. The challenge, however, has been manufacturing one ... phosphates and biological wastes. Ruby Ghosh, associate professor of ...
... dead Phantom midge larvae ( Chaoborus spp.) may explain ... of fish, acidification and fish death in Swedish lakes. Researchers ... of using lake-bottom sediments to show when and how fish ... restorations in acidified regions. "It is actually just ...
Cached Biology News:Genes an important factor in urinary incontinence 2Oxygen sensor invention could benefit fisheries to breweries 2Dead midges reveal living conditions of fish 2
... II xi cell, 16 cm, is used for ... proteins in agarose gels. The cell is supplied ... central cooling core with gaskets, lower buffer chamber, ... 4 sandwich clamps, upper buffer dam, casting stand ...
CleanCut agarose is used to prepare genomic DNA plugs for use in pulsed field gel electrophoresis (PFGE) applications. Supplied as a 12 ml solution of 2% agarose....
...
... uses the Adept CE 4100 high pressure dual ... dual wavelength detector for added flexibility. ... software and interface unit, CE 4901., The CE ... also be used with Windows 98 and 2000, ...
Biology Products: