Dynamic Healthcare Technologies Inc. completes Refinancing Plan.MAITLAND, Fla.--(BUSINESS WIRE)--Dec. 8, 1995--Dynamic Healthcare Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DHTI DHTI Digital Home Technology Integration ) announced completion of the Company's Refinancing Plan today. The final phase resulted in the retirement of the previously outstanding $3.4 million demand Line of Credit by a $600,000 cash payment and the issuance of a Term Note in the amount of $2.8 million in favor of the Bank. The Term Note is payable in fixed monthly payments of principal and interest of $29,911 beginning January 1, 1996 and a balloon payment The final installment of a loan to be paid in an amount that is disproportionately larger than the regular installment. When a loan is made, repayment of the principal, which is the amount of the loan, plus the interest that is owed on it, is divided into installments due at on March 31, 1998. The Term Note bears a floating interest rate equal to the Bank's prime rate plus two percent (2%) per annum Per annum Yearly. , which was 10.75% as of December 8, 1995. Completion of this phase of the Refinancing Plan significantly improves the company's working capital ratio and solidifies its total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. . Since inception of its Refinancing Plan, the company has raised $3,850,000 in equity through the issuance of Series A and B Preferred Shares and warrants, refinanced the $3.4 million demand Line of Credit on a long term basis, and regained listing on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . Dynamic Healthcare Technologies Inc. develops, markets, installs and supports clinical information systems, document imaging solutions and DynamicVision(TM), an enterprise-wide multi-media software and services solution that integrates health-related data from many sources into a comprehensive electronic health record. DyanmicVision is a trademark of Dynamic Healthcare Technologies Inc. CONTACT: Dynamic Healthcare Technologies Inc. Mary Lu Lander (Media), Vice President, Marketing or Mitchel J. Laskey (Investor), President and COO 1-800-832-3020 |
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