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Posted On: 08/15/2022 4:21:52 PM
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NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Announces Entry into Revolving Credit Facility, Launch of Stock Portfolio Tracker
SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its software-as-a-service (“SaaS”) platform. The company today announced its entry into a revolving credit facility as well as the launch of a website that allows investors to track the current value of SRAX’s marketable securities portfolio. “We are working diligently with our auditors to get our 10K filled. As of this date, there are no significant deviations (+/- 3%) on the income statement that we presented in our annual update. Our auditors have told us they believe that we will be able to file in the next few weeks,” said Christopher Miglino, founder and CEO of SRAX. “This new credit facility, from a long-term SRAX investor, allows us to better manage cash flow from the sales of our marketable securities and gives us the tools needed to optimize the value of these positions. We can draw down and pay back the facility as we sell securities, thus creating a favorable cash flow environment for the company. After reviewing the stock portfolio page, investors should be confident that we will be able to repay the facility with the existing portfolio.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its software-as-a-service (“SaaS”) platform. The company today announced its entry into a revolving credit facility as well as the launch of a website that allows investors to track the current value of SRAX’s marketable securities portfolio. “We are working diligently with our auditors to get our 10K filled. As of this date, there are no significant deviations (+/- 3%) on the income statement that we presented in our annual update. Our auditors have told us they believe that we will be able to file in the next few weeks,” said Christopher Miglino, founder and CEO of SRAX. “This new credit facility, from a long-term SRAX investor, allows us to better manage cash flow from the sales of our marketable securities and gives us the tools needed to optimize the value of these positions. We can draw down and pay back the facility as we sell securities, thus creating a favorable cash flow environment for the company. After reviewing the stock portfolio page, investors should be confident that we will be able to repay the facility with the existing portfolio.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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