Comarco Secures $5 Million Credit Line
The company said that the credit line enhances its financial capacity to establish its ChargeSource "Slim and Light" power adapter as a charging technology for multiple mobile computing devices. The credit facility is subject to normal borrowing base considerations.
Company CFO Winston Hickman said, "This new line of credit, combined with our existing cash position, provides us with the financial resources we believe we need to execute our business plan."
Lake Forest, California-based Comarco is a provider of mobile power solutions through its ChargeSource line of multi-function universal mobile power products, which can simultaneously power and charge multiple devices such as notebook computers, mobile phones, BlackBerry smartphones, iPods, and other rechargeable mobile devices.
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