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by Stockwatch Business Reporter

The TSX Venture Exchange added 5.80 points to 706.73 Friday, ending the week up 11.79 points and the month up 29.92 points. Robert Munro and Michael Dalsin's Inspira Financial Inc. has sold a $5.7-million private placement of 57.05 million units at 10 cents as it prepares to go public through Mr. Munro and Marc Lavine's capital pool shell, Chrysalis Capital IX Corp. (NYN).

Last October, Chrysalis Capital IX signed a definitive agreement to acquire Inspira as a qualifying transaction for an unstated number of shares. The target offers lines of credit between $500,000 (U.S.) and $5-million (U.S.) to small U.S. medical companies with revenue below $50-million a year. The loans are secured by accounts receivable, but only government and big insurance company receivables, which have a very low loan default risk. Inspira charges the borrowers between 10 per cent and 20 per cent, including interest and fees. It takes about one week to process an application, compared with about two months when applying at a bank.

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