FOX Translator
No data currently available.
No data currently available.
Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
Home / Markets / Industries / Finance
Monday, May 19, 2008
IceWEB(TM) Receives Commitment Letter from Wells Fargo Business Credit to Refinance Senior Debt
Comtex
HERNDON, Va., May 19, 2008 (BUSINESS WIRE) ----IceWEB, Inc. (OTCBB:IWEB) (www.IceWEB.com) today announced that the company has received a commitment approval from Wells Fargo Business Credit to refinance its current accounts receivable securitization facility under terms that are much more favorable to the Company. The future borrowing capacity will be limited only by IceWEB's total accounts receivables deemed valid by the lender. Consequently, as the Company's accounts receivables increase, available funding under the line will also rise. The variable interest rate will be equal to the Prime Rate published in the Wall Street Journal, plus a margin of 0.05% (half percent).
In anticipation of closing the transaction expeditiously, Wells Fargo has filed a blanket UCC-1. The transaction is subject to customary due diligence and is expected to close in the next 45 days.
"This refinancing represents a critical step forward for IceWEB in strengthening our balance sheet and improving our monthly cash flow. Moreover, we anticipate that it will represent savings of approximately $700,000 in interest expense over the course of the next 12 months, while also providing essential capital to fund several large upcoming projects in our pipeline."
About IceWEB, Inc.
Headquartered just outside of Washington, D.C., IceWEB manufactures and markets storage solutions and on-line application services. Additionally it is a leading source for best-of-class security products, services and solutions offered in partnership with a wide range of global technology leaders. Its customer base includes U.S. government agencies, enterprise companies, and small to medium sized businesses (SMB). For more information, please visit www.IceWEB.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the computer industry and general economy; competitive factors; ability to attract and retain personnel, including key sales and management personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q; and any reports on Form 8K. IceWEB takes no obligation to update or correct forward-looking statements.
SOURCE: IceWEB, Inc.
IceWEB Investor Relations My Le Phuong 703-344-0951 investor@IceWEB.com or Elite Financial Communications Group, LLC Dodi B. Handy President & CEO 407-585-1080 dan@efcg.net
Copyright Business Wire 2008 ********************************************************************** As of Thursday, 05-15-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 05-01-2008 for WFC @ $30.75. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
