Business Services Industry
CDC Systems Inc. Announces Effective Date for Forward Split and Has Been Approved for $15,000,000.00 Loan
Business Wire, Sept 29, 2004
DALLAS -- CDC Systems Inc. (Pink Sheets:CUPY) previously announced its intention to do a 4-for-1 forward split of the Company's common stock. The effective date for the forward stock split will be Oct. 8, 2004. All stockholders that own the stock on or before Oct. 8, 2004 will be involved in the 4-for-1 forward stock split.
CDC Systems Inc. has been approved for a $15,000,000.00 loan. This loan will be used to manufacture the large number of compressors that will be required for the next 24 months of operation. This loan will not involve any stock being issued and will be based solely on the full faith and credit of the Company.
CDC Systems Inc. announced yesterday $1,114,000.00 annual revenue figures generated from 55 compressors. This represents $4,100,000.00 in assets deployed to the field.
CDC Systems Inc. has developed innovative highly efficient natural gas compressors to convert marginal, non-profitable wells into profitable producers. The market of marginal wells number 225,000 nationwide and is growing 10,000 to 15,000 every year. The products produced by CDC Systems not only tackle the marginal market, but are well suited for the market commonly focused on by most compressor companies being the newly drilled wells numbering approximately 25,000 for 2004 and growing every year.
Matters discussed in this press release are "forward-looking statements." Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to certain risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated.
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