THE WOODLANDS, Texas, Feb. 7, 2023 /PRNewswire/ — Thoughts Technological innovation, Inc. (“Head” or the “Business”) (Nasdaq: Brain) introduced today that it has entered into a $3.75 million secured financing arrangement.  The settlement, which is secured by specific true estate belongings, has a just one-12 months term with extensions out there underneath specific ailments.  Desire is payable regular at 12.9%, with the curiosity pay as you go from the personal loan proceeds.  The agreement also supplied for an origination rate of $240,000.

Rob Capps, MIND’s President and Chief Government Officer, stated, “This arrangement supplies doing the job funds to assist in the execution of our backlog of small business.  Importantly, this arrangement does not make dilution to our fairness holders and has nominal constraints this sort of as monetary covenants or restrictions on the use of proceeds.  We imagine the framework of the settlement and fundamental security documents can aid added borrowings, issue to the agreement of the loan provider. Primarily based on preliminary results, we feel that revenues for our fourth quarter ended January 31, 2023 will be in line with formerly discussed anticipations.”

About Brain Technology

Brain Technological know-how, Inc. supplies technologies to the oceanographic, hydrographic, protection, seismic and stability industries.  Headquartered in The Woodlands, Texas, Head has a worldwide presence with crucial running destinations in the United States, Singapore, Malaysia, and the United Kingdom.  Its Seamap and Klein models, layout, manufacture and sell specialised, large general performance, maritime sonar and seismic equipment.

Ahead-hunting Statements

Particular statements and data in this push release may well constitute “forward-on the lookout statements“ within the which means of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical simple fact, like statements regarding our potential final results of operations and financial placement, our business enterprise tactic and programs, our targets for foreseeable future operations, foreseeable future orders and expected delivery of current orders, and long run payments of dividends are forward-seeking statements.  The words “consider,” “assume,” “foresee,” “approach,” “intend,” “need to,” “would,” “could“ or other very similar expressions are meant to determine forward-seeking statements, which are commonly not historical in nature.  These ahead-on the lookout statements are dependent on our present anticipations and beliefs concerning potential developments and their prospective outcome on us.  While management thinks that these forward-seeking statements are acceptable as and when made, there can be no assurance that long term developments impacting us will be individuals that we foresee.  All responses relating to our anticipations for future revenues and functioning success are dependent on our forecasts of our current functions and do not incorporate the potential impact of any long run acquisitions or dispositions.  Our forward-hunting statements involve important dangers and uncertainties (some of which are outside of our control) and assumptions that could trigger true benefits to vary materially from our historic experience and our existing expectations or projections. These dangers and uncertainties involve, devoid of limitation, reductions in our shoppers‘ capital budgets, our possess capital finances, limitations on the availability of funds or bigger charges of capital, volatility in commodity rates for oil and normal gas and the extent of disruptions brought on by the COVID-19 outbreak.

Tale continues

For supplemental information and facts relating to regarded product variables that could cause our precise success to differ from our projected results, make sure you see our filings with the SEC, which includes our Yearly Report on Sort 10-K, Quarterly Reviews on Variety 10-Q and Current Reports on Type 8-K.

Readers are cautioned not to position undue reliance on ahead-wanting statements, which discuss only as of the date hereof.  We undertake no obligation to publicly update or revise any forward-on the lookout statements right after the day they are made, until required by regulation, no matter if as a final result of new information and facts, long run occasions or usually. All forward-wanting statements provided in this push launch are expressly certified in their entirety by the cautionary statements contained or referred to herein.

 

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Source Head Know-how, Inc.