Cash to carry on: Overland Storage.
Cash To Carry On: Overland Storage, a San Diego provider of data
storage systems, said it closed an accounts receivable transaction of up
to $9 million with Marquette Commercial Finance, giving the company the
cash it was seeking for months. Overland, which reported a net loss of
$24.6 million for the 2008 fiscal year that ended June 30, cut 53
employees in August as it attempted to survive a protracted downturn.
The company had been seeking $10 million in financing to maintain
operations.
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