Quantum Technologies (QTWW) Fully Pays Off Senior Debt Lender; Agreement Terminated
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Quantum Technologies, Inc. (Nasdaq: QTWW), has fully repaid all of the outstanding indebtedness owed to its senior secured lender and, as a result of such repayment, the Credit Agreement between the Company and its senior secured lender has been terminated.
"We are extremely pleased to have fully repaid the debt obligations owed to our senior secured lender," said Alan P. Niedzwiecki, President and CEO of Quantum. Mr. Niedzwiecki added, "Over the past twelve months, we have significantly improved our balance sheet by reducing our debt by approximately $13.5 million. Going forward, we can direct our resources on executing and expanding on our natural gas and hybrid vehicle programs as well as other business opportunities."
"We are extremely pleased to have fully repaid the debt obligations owed to our senior secured lender," said Alan P. Niedzwiecki, President and CEO of Quantum. Mr. Niedzwiecki added, "Over the past twelve months, we have significantly improved our balance sheet by reducing our debt by approximately $13.5 million. Going forward, we can direct our resources on executing and expanding on our natural gas and hybrid vehicle programs as well as other business opportunities."
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