new contract?looks like they may have a contract lined up.if the shares start trading again we could see 4 cents again.wow.
Seprotech Systems Inc (C-SET) - News Release
Seprotech increases line of credit by $400,000
2011-03-31 11:04 ET - News Release
Shares issued 51,321,926
SET Close 2011-02-23 C$ 0.03
Mr. Matthew Anderson reports
SEPROTECH ANNOUNCES TERM LOAN FACILITY
Seprotech Systems Inc. has entered into an agreement with its principal lender to increase availability under its line of credit until May 31, 2011. The additional $400,000 term loan facility will be secured by a general security agreement over all the assets of the company.
The term loan facility was completed in accordance with the terms of a partial revocation of a cease-trade order issued by the Ontario Securities Commission on March 8, 2011.
The proceeds of the term loan facility will be used to finance completion of a contract with a significant customer, for legal and audit expenses related to preparation and filing with the commission, continuous disclosure documents with a view to obtaining full revocation of the cease-trade order, and to finance preparation of contract bids for new business.
We seek Safe Harbor.