CERTIFIED ENVIRONMENTAL GROUP, INC. Re-Negotiates Accounts Receivable Line of Credit.TURNERSVILLE, N.J.--(BUSINESS WIRE)--July 29, 1999-- CERTIFIED ENVIRONMENTAL GROUP, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CENV) today announced that it has re-negotiated 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 line of credit. Under the new terms See suggestions for new terms. , Certified anticipates savings during the fourth quarter of approximately $60,000, and during fiscal 2,000 of approximately $250,000. These savings will drop to the bottom line. Further, the Company is required to make a principal repayment of $250,000 by August 31, 1999; which the Company is confident will be made through the sale of its Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. Offering. Additionally, the lending institution Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in is seeking personal guarantees from the heirs of the Sepe estate; the original founder of the Company. CERTIFIED ENVIRONMENTAL GROUP, INC. is licensed by the States of New Jersey and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The Worldwide Web address for CERTIFIED ENVIRONMENTAL GROUP, INC. -- www.certified-group.com In addition to historical facts or statements of current conditions, this press release may contain forward-looking statements. The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial economic regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company, including but not limited to its most recent financial statements and offering documents which are available upon request. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the company has no intent and disclaims any obligation to update any such factors or forward-looking statements to reflect future events or developments. |
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