Cimetrix Incorporated (OTCQB:CMXX) announced that the Company has paid off the remaining balance of $697,000 of its 10% Notes, which were scheduled to mature on September 30, 2012. “The debt reduction will save the Company over $80,000 in interest expense through maturity and strengthens our overall balance sheet” as quoted by Mr. Bob Reback, President and CEO of Cimetrix.
The clearance of debt 14 Months ahead of the scheduled date was possible only because the company used its cash flow from the operations. This action on part of the Company has resulted in eliminating all long term debts from the Company’s balance sheet. Bob holds that the strong performance of the Company over the preceding two years is the directing force. He takes this event as an opportunity to thank the long-term supporters of the Company who shared the company’s vision and bought the Cimetrix Notes.
For over 20 years, Cimetrix has been providing reliable and innovative factory automation and equipment control software solutions to the semiconductor, photovoltaic, and related electronics industries. At the forefront of emerging SEMI® standards development, the Company is most trusted source for efficient implementation of the SECS/GEM, GEM300, and Equipment Data Acquisition (EDA), also known as Interface ‘A’ standards. While the capital equipment market will always be recurring and the customers of the company too have reported some short-term headwinds, the long-term outlook remains strong for the semiconductor, LED, and PV markets the company serves. With an extensive customer base & a strong product portfolio, the company is looking forward to expand its legs outside the semiconductor equipment market and achieve a solid financial position.
Shares of CMXX closed 10% high on Friday at $0.220.
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