Mr. Jay Lewis reports

ID WATCHDOG ENTERS INTO $3.0 MILLION CREDIT FACILITY

ID Watchdog Inc. has entered into a new $3.0-million credit facility with Silicon Valley Bank. The facility will consist of an up-to-$2.5-million revolving credit facility and a $500,000 term loan. The company intends to use proceeds from the facility to repay the remaining promissory notes due Nov. 22, 2017, which bear interest at 15 per cent per annum, and for general corporate purposes.

The revolving facility and term loan mature on Sept. 30, 2018, and Sept. 30, 2019, respectively, bear interest at the prime rate plus 3.00 per cent, currently 6.5 per cent, and are secured by all the assets of the company.

"The facility will allow us to significantly reduce our interest expense and, coupled with the recurring cash generated by our business, will provide us with enhanced financial flexibility to pursue our strategic initiatives," said Jay B. Lewis, chief financial officer, ID Watchdog.

We seek Safe Harbor.