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Aoxing Pharma Secures $3.2 Million from Bank Loan

publication date: Dec 7, 2011
Aoxing Pharma announced a new 20 million RMB ($3.2 million) bank loan, arranged with the help of a city-government owned investment firm. The one-year loan features a high 15% interest rate. Last month, Aoxing received $315,000 from Heibei Province to pay interest on its existing $12 million of debt. Aoxing reported cash of $2.5 million at the end of its most recent reporting period, and a negative cash flow of $2 million over the previous 12 months. More details....

Stock Symbol: (AMEX: AXN)     Share this with colleagues:  

 


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