Com Systems Sells Its Accounts Receivable
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Com Systems Inc., a Van Nuys long-distance telecommunications company, said it concluded the sale of its accounts receivable to the financial services group of a major corporation, which it did not identify. Under the two-year agreement, Com Systems will sell its accounts receivable for up to $20 million.
The company said the funds would be used to pay debt, reduce its cost of funds and improve its operating cash flow.
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