Alliance Distributors Holding Inc. Announces New Financing Arrangement.COLLEGE POINT, N.Y. -- Alliance Distributors Holding Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : ADTR ADTR A Day to Remember (band) ADTR Academy of Dance Therapists Registered ADTR Adapter ), a distributor of interactive video games See video game console. and gaming products, today announced that it has signed an amendment to its financing agreement with Rosenthal & Rosenthal. Among other things, the amendment increases the Company's financing line from $5 million to $10 million, and it reduces the interest rate on outstanding borrowings from prime plus 2.0% to prime plus 1.5%. Jay Gelman, 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. , said, "I am pleased that we are continuing a relationship with Rosenthal & Rosenthal that we established in 2003. The new arrangement will allow us to take fuller advantage of our borrowing power, will give us the ability to take further advantage of opportunity purchases, and will reduce the interest rate on our borrowings." Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Certain of the above statements contained in this press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with technological change, competitive factors and general economic conditions. The company has no duty and undertakes no obligation to update such statements. |
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