November 2002
BLM announces first year results and debt refinancing.
Minneapolis, MN — BLM Technologies, Inc. announced that revenue for the year ended October 31, 2002 was slightly below $12MM. "Given the uncertainty regarding aspects of the business at the time of the acquisition from Wareforce a year ago, I am pleased with the first year results" announced Ron Meinhardt, President of BLM. "Service revenue for the last six months of the fiscal year increased by 26% over the first half evidencing our strong sales efforts during the year."
"As a result of our performance during the year we were able to move from an asset based lender to a traditional working capital lender effective November 1, 2002. As part of this transaction we also retired the firm Note payable to Wareforce. The combination of the refinancing and retirement of the Wareforce note will give us more flexibility."
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BLM announces first year results and debt refinancing.
Minneapolis, MN — BLM Technologies, Inc. announced that revenue for the year ended October 31, 2002 was slightly below $12MM. "Given the uncertainty regarding aspects of the business at the time of the acquisition from Wareforce a year ago, I am pleased with the first year results" announced Ron Meinhardt, President of BLM. "Service revenue for the last six months of the fiscal year increased by 26% over the first half evidencing our strong sales efforts during the year."
"As a result of our performance during the year we were able to move from an asset based lender to a traditional working capital lender effective November 1, 2002. As part of this transaction we also retired the firm Note payable to Wareforce. The combination of the refinancing and retirement of the Wareforce note will give us more flexibility."
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