Business Services Industry
AdSouth Partners Receives $2 Million Receivable Financing Facility
Business Wire, Sept 28, 2004
BOCA RATON, Fla. -- AdSouth Partners, Inc. (OTCBB:ADPR) is pleased to announce that it has recently closed on a financing facility which provides the Company with up to $2 million of receivables financing for a period of one year. AdSouth's CFO, Lee Wingeier stated, "This facility solidifies our working capital position and greatly enhances our ability to fulfill our product commitments to our retail customers throughout the fourth quarter and beyond."
John Acunto, the Company's Chief Executive Officer, provided a limited personal guarantee in connection with the financing facility. John Acunto stated, "This financing enables AdSouth to begin laying the foundation of continued growth in the products division and will allow the Company to continue to support its sell through of the Dermafresh product which is now being sold in approximately 7,000 retail stores across the country." "This financing enables us to fulfill current retail customer demands as well as fulfill future retail customer demands," he added.
About AdSouth Partners
AdSouth Partners is a vertically integrated direct response marketing company that generates revenues from the placement of advertising, the production of advertisements, creative advertising and public relations consulting services and from the direct marketing sale of acquired rights to products. AdSouth Partners is developing a market niche by providing a full level of service quality to fulfill an existing need for the users of direct marketing services.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the Safe Harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
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