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paul.nowak wrote: Matt, thanks for the comments. I made an error on the version of Plone. It's 2.5 Plone running on Zope 2.9x. In regards to the additional products, we have a skin installed and we have a product that we had custom developed for us that connects to a PostgreSQL database. We've looked at slow PostgreSQL queries causing problems and have not been able to find an issue. We've also tested for the case where the PostgreSQL server is down and have not been able to create an issue. We therefor...
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A.D.A.M., Inc. Announces Completion of Refinancing Plan

A.D.A.M., Inc. (NASDAQ: ADAM - News), a leading provider of health information and benefits technology solutions announced today that it has completed its refinancing plan and has obtained a new credit facility with RBC Bank USA. This new facility replaced the existing 2006 credit agreement with CapitalSource LLC.

Under the new agreement, A.D.A.M. secured a term loan of $10 million and expanded its revolving credit facility from $2 million to $3 million. A.D.A.M. will pay $2 million per year of principal and can repay its debt obligations at any time with no prepayment penalties. The new interest rate is equal to the 30-day LIBOR plus 3.25% compared to A.D.A.M.’s previous rate of 90-day LIBOR plus 4.00%.

As part of the transaction, the 2006 credit agreement with CapitalSource was repaid in full and the agreement was terminated. The equity component of the 2006 credit agreement, which was related to the $5 million convertible note, was replaced with a warrant to purchase common stock. The warrant, to expire in August 2011, allows CapitalSource to purchase up to 411,667 shares of A.D.A.M.’s common stock at a price of $3.65 per share. A.D.A.M. will record a non-cash charge in the fourth quarter of 2008 of approximately $900,000 related to the write-off of unamortized financing fees and issuance of the warrants related to the termination of the 2006 credit agreement.

A.D.A.M.’s president and chief executive officer, Kevin Noland, commented, “We are very pleased with the outcome of our refinancing efforts. In less than two and half years since the original agreement with CapitalSource, we have successfully repaid $15 million of the $25 million of our debt as a result of our strong cash flow model.

“We have taken, and continue to take, positive steps towards improving our profitability in 2009. Securing this new financing in a difficult economic time is reflective of our strong business fundamentals. The new credit facility will provide us additional flexibility and lower interest costs that we believe better positions us to invest in new products and infrastructure for long-term revenue growth.”

About A.D.A.M., Inc.

A.D.A.M. (NASDAQ: ADAM - News) is a leading provider of health information and benefits technology solutions to healthcare organizations, employers, consumers, and educational institutions. A.D.A.M.’s portfolio of products includes its award-winning Health Illustrated Encyclopedia and Benergy™, the leading benefits communication and healthcare decision support platform for small and mid-sized employers. A.D.A.M. content and technology solutions help consumers better understand their health, wellness and benefits, while helping healthcare organizations and employers reduce the costs of healthcare and benefits administration. For more information, visit www.adam.com or call 1-800-408-ADAM.

A.D.A.M. Forward-Looking Statements

Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. These statements involve a number of risks and uncertainties that could cause actual results, performance or developments to differ materially. Factors that could affect the company's actual results, performance or developments include general economic conditions, development of the Internet as a source of health information, pricing actions taken by competitors, demand for the company's health information, regulatory changes in laws and regulations that impact how the company conducts its business and the other factors described in A.D.A.M.’s filings with the SEC. A.D.A.M. disclaims any obligation or duty to update any of its forward-looking statements.

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