Bond Labs Strengthens its Credit Facility
Bond Labs Strengthens its Credit Facility
OMAHA, Neb.--(BUSINESS WIRE)-- Bond Laboratories, Inc. (OTCBB:BNLB) ("Bond Labs"), an international provider of innovative and proprietary nutritional supplements for health conscious consumers, marketed primarily through its wholly owned operating division, NDS Nutrition Products ("NDS") www.ndsnutrition.com, today announced that the Company has once again improved the terms of its existing line of credit with U.S. Bank. The new agreement increases the Company's borrowing capacity by 50%, from $2,000,000 to $3,000,000 and further reduces the effective rate of interest on the credit line.
"U.S. Bank remains a committed partner in Bond's continued growth. The newly expanded credit facility is further validation of the Company's strong anticipated future growth prospects," stated Bond Labs' CEO, John S. Wilson. "The expanded facility will provide the Company with the flexibility to seize current and future growth opportunities both domestically and internationally. With over 1,600 international GNC franchise stores in 53 different countries, this is just the beginning of what we anticipate will be a huge opportunity to increase the Company's distribution footprint," concluded Mr. Wilson.
About Bond Labs
Bond Laboratories is a manufacturer of innovative nutritional supplements. The Company produces and markets products through its NDS Nutrition division. NDS' products number over 50 brands of energy, sports and dietary supplements. These products are sold directly through specialty health and nutrition retailers, including top-selling products at GNC® franchises. Bond Labs is headquartered in Omaha, Nebraska. For more information, please visit http://www.bond-labs.com.
Forward-Looking Statement
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include, but are not limited to: the ability to of the Company to continue to grow revenue; the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs; and the outcome of the Company's pending litigation with the U.S. Department of Labor and our former President alleging violations of certain unlawful employment practices in connection with his separation from the Company. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in The Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
Surety Financial Group, LLC
Bruce Weinstein, 410-833-0078
KEYWORDS: United States North America California Nebraska
INDUSTRY KEYWORDS:
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