Courtesy of Benzinga.
eFuture Information Technology Inc. (Nasdaq: EFUT) today announced the purchase of senior convertible notes with a total aggregate outstanding principal amount equal to US$1 million. The notes were issued by the Company on March 13, 2007 and were due on March 12, 2012.
eFuture purchased the notes for US$1 million from institutional investors. The sellers agreed to waive all outstanding interest payments. The purchase was made from eFuture’s cash reserves, and is not expected to have a material impact on the Company’s business operations or growth plans.
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