California Nanotechnologies Announces Final Debt Repayment to Omni-Lite Industries
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) has announced the final repayment of its US$600,000 debt to Omni-Lite Industries, marking the first time the company has been debt-free in approximately 15 years. The payment was made ahead of its scheduled May 2025 maturity date, resulting in interest savings. The initial intercompany advance from Omni-Lite in FY2010 grew to approximately US$1.5 million in FY2023 before Cal Nano began making repayments, coinciding with improved operating profits and cash flow generation.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) ha annunciato il rimborso finale del suo debito di 600.000 USD nei confronti di Omni-Lite Industries, segnando la prima volta che l'azienda è completamente senza debiti dopo circa 15 anni. Il pagamento è stato effettuato anticipatamente rispetto alla data di scadenza prevista per maggio 2025, comportando risparmi sugli interessi. L'anticipo iniziale da Omni-Lite nel FY2010 è cresciuto fino a circa 1,5 milioni di USD nel FY2023, prima che Cal Nano iniziasse a effettuare i rimborsi, in concomitanza con il miglioramento dei profitti operativi e della generazione di flussi di cassa.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) ha anunciado el reembolso final de su deuda de 600,000 USD con Omni-Lite Industries, marcando la primera vez que la empresa está libre de deudas en aproximadamente 15 años. El pago se realizó antes de la fecha de vencimiento programada de mayo de 2025, lo que resultó en ahorros en intereses. El adelanto inicial de Omni-Lite en el año fiscal 2010 creció hasta aproximadamente 1,5 millones de USD en el año fiscal 2023, antes de que Cal Nano comenzara a realizar reembolsos, coincidiendo con una mejora en las ganancias operativas y la generación de flujo de caja.
캘리포니아 나노기술 (TSXV: CNO) (OTC Pink: CANOF)는 Omni-Lite Industries에 대한 600,000달러의 최종 상환을 발표했으며, 이는 회사가 약 15년 만에 처음으로 부채가 없는 상태가 되었다는 것을 의미합니다. 이 지급은 예정된 2025년 5월 만기일보다 앞서 이루어져 이자 절감 효과를 가져왔습니다. FY2010년 Omni-Lite의 초기 내부 대출은 FY2023년까지 약 150만 달러로 증가한 후 Cal Nano가 상환을 시작하게 되었으며, 이는 운영 이익과 현금 흐름이 개선되는 것과 일치했습니다.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) a annoncé le remboursement final de sa dette de 600 000 USD envers Omni-Lite Industries, marquant la première fois que l'entreprise est complètement sans dette depuis environ 15 ans. Le paiement a été effectué avant la date d'échéance prévue de mai 2025, entraînant des économies d'intérêts. L'avance interentreprises initiale d'Omni-Lite au cours de l'exercice 2010 a augmenté pour atteindre environ 1,5 million USD au cours de l'exercice 2023, avant que Cal Nano ne commence à effectuer des remboursements, coïncidant avec une amélioration des bénéfices opérationnels et de la génération de flux de trésorerie.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) hat die endgültige Rückzahlung seiner 600.000 USD Schuld an Omni-Lite Industries bekannt gegeben, was das erste Mal ist, dass das Unternehmen seit etwa 15 Jahren schuldenfrei ist. Die Zahlung wurde vor dem terminierten Fälligkeitsdatum im Mai 2025 geleistet, was zu Zinsersparnissen führte. Der anfängliche Intercompany-Vorschuss von Omni-Lite im Geschäftsjahr 2010 wuchs bis zum Geschäftsjahr 2023 auf etwa 1,5 Millionen USD, bevor Cal Nano mit den Rückzahlungen begann, was mit einem Anstieg der Betriebsergebnisse und der Cashflow-Generierung zusammenfiel.
- Early debt repayment of US$600,000, becoming debt-free for first time in 15 years
- Interest savings from early loan repayment
- Improved operating profits and cash flow generation
- Enhanced financial flexibility for future investments
- None.
Los Angeles, California--(Newsfile Corp. - November 18, 2024) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") is pleased to announce its final debt repayment to Omni-Lite Industries Canada Inc. ("Omni-Lite") in the amount of approximately US
This marks the first time the Company has been debt free in approximately 15 years after receiving its first intercompany advance from Omni-Lite. The final repayment was made ahead of its scheduled maturity in May 2025, providing interest savings to the Company.
"We are happy to report that Cal Nano is now debt-free after paying off all of the advances received from Omni-Lite," stated CEO Eric Eyerman. "This provides us with more flexibility on how to invest our operating cash flows as we continue scaling our manufacturing services. Given our long history of trying to grow our business while under a significant debt burden, this is a welcome change for us."
Omni-Lite made its initial intercompany advance to Cal Nano in FY2010. The total loan grew to approximately US
On this occasion, Cal Nano would like to acknowledge the long-term support Omni-Lite has provided to the Company since it was founded. Omni-Lite provided Cal Nano with the initial capital and foundation to build a uniquely profitable and fast-growing business in the field of advanced materials. The Company would also like to acknowledge the efforts of Mr. David Grant, the founder and former CEO of both Cal Nano and Omni-Lite, who had the vision to create Cal Nano as an independent public entity.
About California Nanotechnologies Corp.
At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. With our unique expertise in processing metallurgic powders into parts, global leaders trust us to help push the boundaries of applied material science. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. Our customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.
For further information, please contact:
California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.com
Panolia Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@panoliair.com
Reader Advisory
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FAQ
How much debt did California Nanotechnologies (CANOF) repay to Omni-Lite Industries?
When was California Nanotechnologies (CANOF) scheduled to complete its debt repayment?
What was the peak debt amount of California Nanotechnologies (CANOF) to Omni-Lite?
