01-02-2005, 12:33 AM
|
|
|
Registered User
Join Date: Dec 2004
Posts: 20
|
Ibill to receive $10.4 million payout
http://home.businesswire.com/portal/... 3&newsLang=en
Quote:
PHSL Worldwide, Inc. Announces $10.4 Million Payment Expected by January 31, 2005
DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Dec. 30, 2004--PHSL Worldwide, Inc. (Pink Sheets:PHSL) announced that the payment by Interactive Brand Development of the termination fee of $10.4 million is expected to be received by January 31, 2005. As previously disclosed, PHSL is being paid the fee pursuant to an agreement with IBD and in connection with its recent $16.475 million private placement that included Internet Billing Company (iBill).
PHSL intends to use the $10.4 million payment to enhance the balance sheet and liquidity of its iBill subsidiary. iBill is the principal operating subsidiary of PHSL.
|
|
|
|