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Point to Point, Inc. Announces Emergence from Bankruptcy; Components of Bankruptcy Financing
Published: Tue, 21 Feb 2006, 11:46:00 GMT
KANSAS CITY, MO (SEND2PRESS NEWSWIRE) -- Point to Point, Inc. (formerly known as Point to Point Business Development, Inc.) announced that it will emerge from bankruptcy today.
 The reorganization plan includes a line of credit arranged through AGS Capital LLC, a private equity firm located in Indianapolis, IN. Alan Symons, Chairman of the Board for AGS Capital said, "We are very excited about Point to Point and its on line e-procurement platform. Based on our knowledge of the marketplace Point to Point is poised to become a major player in the B2B procurement space." Under the terms of its financing Point to Point will relocate its corporate headquarters to Indianapolis, allowing it to take advantage of AGS Capital's management resources.
Point to Point reached agreement with its creditors to share future profits with its creditors for three years.
Scott J. Weaver, President, said, "I wish to thank the many individuals, including our customers, suppliers and employees who have worked so hard to reach this most important milestone. Point to Point can now move forward without the costs and burdens of bankruptcy, well-positioned to take advantage of our procurement, payment processing and 'push' technologies."
About Point to Point, Inc.
Point to Point (P2P) is an emerging leader in e-procurement services including maintenance repair and operations (MRO) spend, storeroom and inventory management, centralized payment processing, and centralized controls. As part of its service offering, P2P owns and hosts its own e-commerce platform. This "Private Trading Exchange (PTX)" bridges customers to their suppliers through an electronic portal reducing the internal costs and waste associated with indirect spend such as purchase orders, invoices, and checks. Centralized payment processing is performed by pushing all payments electronically.
Point to Point Construction Management, Inc., offers a similar PTX to new home builders bridging them to their sub contractors. The platform improve controls reduces costs and through its "One Click Electronic Lien Release" technology builders are able to effectively manage liens in a way never before able. Centralized payment processing is performed by pushing all payments electronically.
Additional information on Point to Point, Inc. is available at www.p2pmro.com.
Contact: Scott J. Weaver, President, scott.weaver@mrosoup.com, 317-895-2700.
NEWS SOURCE: Point to Point, Inc.
Send2Press® is the originating wire service for this story.
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REFERENCES: Point to Point, Inc. Announces Emergence from Bankruptcy; Components of Bankruptcy Financing, Point to Point, Inc., point2point, Point to Point Business Development, Inc., Scott J. Weaver, e-procurement services including maintenance repair and operations (MRO) spend, storeroom and inventory management, centralized payment processing, and centralized controls, Private Trading Exchange, PTX, home builders, One Click Electronic Lien Release, B2B procurement space, Alan Symons, AGS Capital LLC, Feb 21, 2006.
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