Inforetech Wireless Secures US$1M Line of Credit
By Staff Writer | July 16, 2003
Inforetech Wireless Technology [OTC BB: WYRE.OB], a Vancouver, Canada-based supplier of GPS technology for the golf industry, has secured a C$1.5 million (US$1.08 million) line of credit. That amount was less than the company originally requested.
The company booked C$310,000 (US$223,600) in sales for the second quarter of 2003 and estimates for the third quarter are consistent with its C$9.5 million (US$6.85 million) projection for the first full year of operations, limiting the need for an expanded credit facility.