• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Complete Care Medical, Inc. Approves Extension of Financing Commitment From TID Funding, Inc.

Posted on: Monday, 3 April 2006, 09:01 CDT

Complete Care Medical, Inc. (OTC: CCMI) announced today that it has agreed to a date change, for the closing of debt financing in the amount of $2,000,000, with TID Funding Inc. of Hauppauge, New York. The delay is related to certain pending real estate transactions. The revised commitment, as before, provides for funding in three tranches, with the initial disbursement of $1,000,000 now to be delivered to CCMI on or before April 15, 2006, followed by $500,000 on or before May 1, 2006, with the final $500,000 due on or before May 15, 2006. The financing, structured as an interest only loan, is for a term of 36 months.

"We are highly enthusiastic about establishing this relationship with CCMI and appreciate their forbearance in agreeing to the delayed closing," said Aaron Gaffner, TID Vice President. "We remain convinced that the CCMI business model promises high growth in a recession proof industry."

"This delay will cause no financial hardship to Complete Care Medical," said CEO JP Monteverde III, "and we continue to look forward to a long term beneficial relationship between our two companies."

Through its subsidiaries, Complete Care Medical, Inc. provides patients in all 50 states with lower cost alternatives for disease management, medical supplies and prescription pharmaceuticals. In addition, Complete Care Medical's discount services and medication program offers healthcare payers, healthcare providers, healthcare professionals and patients with easy access to utilization and compliance data in order to improve patient outcomes and improve quality of life.

For more information: www.ccmedicalinc.com

Forward-Looking Statements: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.

All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

 Contact: J.P. Monteverde III President and CEO Complete Care Medical, Inc. Telephone: 281 830 5689 Email: info@ccmedical.inc

SOURCE: Complete Care Medical, Inc.

Source: MARKET WIRE

More News in this Category