Finance

E-health company announces $4.0 million debt restructuring, positive cash flows

Published in Blood Weekly, May 13th, 2004

Global Med Technologies, Inc., (GLOB) announced a debt restructuring of $4.029 million that resulted in $3.5 million of the debt being converted into series AA convertible preferred stock and $529,000 remaining as debt.

Global Med's Chairman and CEO, Michael I. Ruxin, MD, commenting on the debt restructuring, stated, "This is a very exciting time for Global Med. With the debt restructuring in place, not only have we significantly cleaned up the balance sheet, but our backlog of business continues to grow both domestically and internationally." Dr. Ruxin added, "The company has had positive cash flows for 2 consecutive years and continues to fund its operations from...

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Source: Blood Weekly (2004-05-13)

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