Sector 10, Inc. announced this morning that it has secured a line of credit to introduce its new products and their capabilities to the market. The funds will enable the company to accomplish the established goals for 2009/2010. According to the press release, the credit facility was structured through Sector 10 Holdings, Inc., the Company’s largest shareholder who has provided funding throughout the company’s development phase.
Pericles DeAvila, CEO of Sector 10, stated, “Sector 10 has a tremendous opportunity in the market place and will be taking full advantage of its available resources. The management will be carefully managing cash capabilities while navigating what could potentially become a hyper growth situation.”
Mr. DeAvila added, “The terms of the agreement are favorable to investors because it will not cause any dilution at this early stage as Sector 10 further defines its products’ capabilities and prepares to introduce its new technology to suitable markets.”
The Credit Facility will provide Sector 10 with the resources needed to introduce its products to the market and create awareness of their capabilities. Over the next several months, the Credit Facility will be drawn upon monthly and used for specific action items set forth by Sector 10 Holdings, Inc and its Creditors who made the Credit Facility possible.
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