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VITAMIN SPICE (VTMS.OB)
Vitamin Spice Secures Initial $500,000 Debt Financing To Begin Filling Backlog Of Orders
Vitamin Spice announced that Integrated Resource Tech (IRT) has given a firm commitment to initially fund up to $500,000 of orders for VitaminSpice. The financing is debt only with no equity thus preventing any dilution to the shareholders. All terms have been agreed to with funding of orders to begin shortly. Management has focused on securing debt financing so as to fund the amount of orders being presented to the Company without diluting the shareholders. The basic terms with IRT fall in the range of typical factoring or purchase order financing.