APO Health Signs $3 million Credit Facility.Business Editors/Health & Medical Writers OCEANSIDE, N.Y.--(BUSINESS WIRE)--Nov. 6, 2002 APO apo- 1 A prefix indicating a protein component in a conjugated molecule–eg, apoferritin, apolipoprotein, see there 2 Apolipoprotein, see there Health, Inc. (APO) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APOA APOA Apolipoprotein A APOA Albuquerque Police Officers Association ), announced today that its has signed an agreement with asset based lenders Rosenthal and Rosenthal for a secured credit facility of $3 million. The facility replaces the previous credit line extended by HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , Inc. and exceeds it by $1 million. APO will be able to draw down on the credit line through a formula based upon its accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventories. Jan Stahl, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of APO Health, "The availability of the expanded credit facility gives us the ability to grow our business more rapidly. We can increase our inventory mix while simultaneously purchasing additional product. I expect the financial flexibility afforded by the credit line to allow us to further grow revenue and reduce costs." About APO Health, Inc. APO Health is a multi faceted distributor of medical dental and veterinary supplies. These supplies include protective garments, surgical devices, instruments, pharmaceuticals, needles, syringes and health and beauty aids. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings. |
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