CLIXhealth.com, Inc. Approved for $1,000,000 Line of Credit.WAYNE, Pa.--(BUSINESS WIRE)--June 14, 1999-- CLIXhealth.com announced today that it has been approved for a revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. for up to $1,000,000 from DVI (1) (Digital Video Interactive) An earlier compression technique that provided up to 72 minutes of full-screen video on a CD-ROM. Acquired by Intel in 1988 from RCA's Sarnoff Research labs, Princeton, NJ, DVI never caught on. Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Timothy W. Cunningham, Chairman of CLIXhealth.com indicated that the line of credit would be used to pay down bank lines and to provide the imaging division with working capital for expansion. Simultaneously, the company announced it was pursuing opportunities to grow its imaging division through select acquisitions. Mr. Cunningham stated "We look forward to working with DVI on a variety of financing projects. They are the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae specialty health care financing firm in the country and understand the special needs of our imaging business. After a difficult 1998, we have emerged with a healthy and profitable division that is poised to take advantage of this access to capital to finance growth." Mr. Cunningham also indicated that the company's e-commerce division, VitalBody, has had substantial traffic at its web site at www.theanti-aginginstitute.com, and had begun to generate sales. He noted that "We have been developing a number of custom formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. with the National Anti-Aging Institute, and are now starting to market these products aggressively. We are seeking to expand our management team by adding expertise in network marketing to launch VitalBody's expected push into this means of distribution." The company also disclosed that it is preparing its Form 10 for submission to the SEC, and, upon approval by the Commission, would become a full reporting company. It currently anticipates that such submission will include results for the six month period ending 6-30-99. For further information contact: CLIXhealth.com Timothy W. Cunningham phone 610-293-7650 e-mail twclix@earthlink.net Visit our web site at www.CLIXhealth.com When used by the Company in this report and elsewhere from time to time, the words, "intends," "believes," "anticipates," "expects" and similar expressions are intended to identify 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. concerning the Company's operations, economic performance, financial condition including, in particular, the likelihood of the Company's success in developing and expanding its business. Forward-looking statements are based on a number of assumptions and estimates which are inherently subject to uncertainties and contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. beyond the control of the Company and reflect business decisions which are subject to change. Many factors could cause actual results to differ materially from those anticipated in the Company's forward-looking statements. |
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