Hi Score Enters Funding Agreement With Meridian Working Capital
25 Mars 2011 - 12:30PM
Marketwired
Hi Score Corporation (PINKSHEETS: HSCOD) announced today that it
has entered into an agreement with Meridian Working Capital of
Phoenix Arizona. The agreement provides up to $150,000 in Purchase
Order Financing for the Company. The $150,000 is available
immediately. The agreement with Meridian is one component in a
package that provides the Company with up to $500,000 in Purchase
Order and Inventory Financing. This package also includes $200,000
in long term inventory financing from a private investor that was
funded last week. The investor has committed an additional $150,000
to the Company when and if needed.
The agreement with Meridian comes just days after the Company
hired Weinberger Consulting. One of the main reasons that
Weinberger was hired was specifically to help the Company obtain
funding that is not dilutive to the Company's shareholders.
"I am very pleased with the pace that Weinberger is moving,"
said Michael Zoyes CEO for Hi Score. "A lot of moving parts are
coming together... Dominick (DMD Lighting) is bringing the orders
in and Eric (Weinberger) has seen to it that we are financially
prepared to fill the orders... I am very enthusiastic about our
next quarter... it looks as if Dominick will hit his goal."
Mr. Zoyes was referring to the commitment that Dominick Falso
made when he came on board with the Company in January 2011,
wherein Dominick indicated "... Hi Score's gross volume should
reach at least $500,000 per quarter by the second quarter of 2011."
Dominick commented that the lighting business is out there for us
to get... and now we are more prepared than ever to go out and get
it."
About Hi Score
Hi Score Corporation is a supplier of eco-friendly lighting
products in the Western Hemisphere. It offers its customers the
fiscal and ecological practicality of utilizing safe, efficient,
solid state green lighting rather than conventional fluorescent and
incandescent bulbs. The Company offers the widest selection of
high-quality, long-lasting LED lighting products that that can
replace existing incandescent, fluorescent and halogen bulbs as
well as compact fluorescent lights. Additionally the Company offers
Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and
REPCO Labels, respectively. The Company sells its products directly
to distributors, consumers, businesses as well as to
municipalities.
Safe Harbor Statement: This release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934 that are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed
from time to time in reports filed by the company with the
Securities and Exchange Commission. Although the company believes
that the expectations reflected in its forward-looking statements
are reasonable, it can give no assurance that such expectations or
any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not
limited to, the company's ability to raise necessary financing,
retention of key personnel, timely delivery of inventory from the
company's contract manufacturers, timely product development,
product acceptance, and the impact of competitive services and
products, in addition to general economic risks and
uncertainties.
CONTACT: Hi Score Corporation Michael Zoyes President (954)
922-5740 www.hiscorecorporation.com
Hi Score (CE) (USOTC:HSCO)
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