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[QUOTE]Originally posted by Superbee383: [QB] PHDTF - .141 Phinder Technologies Receives Term Sheet for $10 Million in A/R Financing 10/30/2006 OTC BB symbol (PHDTF) TORONTO, Oct 30, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Phinder is pleased to announce that it has received a term sheet for a $10 million facility with respect to accounts receivable financing. One of the provisions of the term sheet is that the Company provides accounts receivable insurance on the accounts financed. As per the company's previous press release, Phinder has already received a term sheet for up to $25 million of credit insurance. "Phinder has already negotiated terms of 7 net 7 with a number of clients, which will allow the company to finance up to $20 million in monthly revenues with this credit facility." said Kevin Donahue, President of KBD Enterprises Inc., a wholly owned subsidiary of Phinder Technologies Inc. Phinder Technologies provides IP-based, end-to-end networking and telecommunications solutions. The company sells converged telecommunication products to operators in both emerging and established telecommunications markets worldwide. FRANKFURT - WKN #: A0DQU5 In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, PHDTF notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, PHDTF wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future. The above and additional factors are discussed in detail in the company's filings with the U.S. Securities and Exchange Commission. These may be viewed at [URL=http://www.sec.gov]www.sec.gov[/URL] and many other Web sites without charge. SOURCE Phinder Technologies Inc. For Investor Relations contact: David Putnam, Email: ir*phinder.com, (416) 815-1771, ext.227; Mark Cohen-IR, 5W Public Relations, (212) 584-4292, E-mail: mcohen*5wpr.com, [URL=http://www.phinder.com]www.phinder.com[/URL] http://www.prnewswire.com Copyright (C) 2006 PR Newswire. All rights reserved [/QB][/QUOTE]
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