IRVINE, Calif. -- (BUSINESS WIRE) -- Probe Manufacturing, Inc., (OTCQB: PMFI), a global electronics design & manufacturing services company, today announced the closing of $750,000 in a private financing offering. As a result, the Company has fulfilled its loan obligation to Far West Capital and credit facility obligation in connection with its acquisition of Trident Manufacturing in March of 2013.
John Bennett, Chief Financial Officer of Probe Manufacturing, commented, “In light of the high level of interest expenses incurred, we found it prudent to conserve our cash flow by paying off our line of credit with Far West Capital through the completion of this equity financing. This initiative has significantly reduced our interest expense as well as enabled us to capitalize on our business more effectively. We believe our stronger balance sheet will enhance our ability to support our aggressive plans for growth and profitability in 2014.”
About Probe Manufacturing, Inc.
Probe Manufacturing is a Global Electronics Design & Manufacturing Services Company providing Original Equipment Manufacturers with electronics manufacturing services through its domestic factories in the United States. Headquartered in Irvine, California, Probe has been serving medical, aerospace, defense, industrial, instrumentation, alternative energy, and telecommunication industries since 1994. Probe’s common stock is traded on the OTC Market QB under the symbol PMFI. Further information is available on Probe’s website: www.probeglobal.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Probe’s payoff to Far West Capital will be financially beneficial to the Company, whether it will enable us to capitalize the company more effectively, or enhance our ability to raise additional capital. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company’s periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.