News
Menlo Park, CA - OK
International, which over the past few years has acquired several leading producers
of benchtop assembly systems, is consolidating those product lines under the OK International name, the company
said today.
In a statement, the company said that the Metcal, Techcon
Systems and Impell lines of
workbench products would now be sold under the OK International
brand.
CirTran issued a $3.75 million convertible debenture to Highgate House
Funds, Ltd., a New York investment group. CirTran
used the funds to retire separate notes of $1.7 million and $565,000, respectively.
CirTran gained a net cash
of $1.24 million, which will be used to fund its operations in the U.S.
and China," founder and president Iehab J. Hawatmeh said in a press
statement.
CirTran
will also save $254,000 -- 57% -- in annual
interest payments.
Last week, CirTran reported EBITDA of $26,518 and positive shareholder
equity for the first quarter of fiscal 2005.
Suntron, a contract assembler, has until Aug. 22 to comply; failure to do so will lead to delisting of the company's common stock.
Suntron said it is evaluating its options.
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