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Article: HEALTH PROFESSIONALS, INC. ANNOUNCES IMPROVED LIQUIDITY
- Article from:
- PR Newswire
- Article date:
- April 13, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORT LAUDERDALE, Fla., April 13 /PRNewswire/ -- Health Professionals, Inc. (AMEX: HPI) today announced that it has completed three important transactions:
1. The receipt of $800,000 relating to the conversion of a portion of the notes receivable arising from the sale of certain discontinued operations in 1993 to cash, at a discount which was recorded in the prior year's financial statements;
2. The modification of the repayment terms due the State of New York to provide for a reduction of payments from $50,000 per month to $50,000 per quarter, while also bringing the obligation current with a $175,000 payment;
3. The settlement of the litigation ...