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Abode home security offers peace of mind with its various effective features, including night vision to help you see clearly what’s going on in your space even in the dark of night, battery backup for when the power goes out, cellular backup for when the power goes out or for mobile access to surveillance footage, and fully encrypted services. Visual event verification helps to reduce the number of false alarms by this home security system as well. Amazon Alexa can be connected to abode as well, providing you with easy voice activation and control capabilities as well. This DIY home security system is designed to work well for anyone in any living space – homeowners and renters alike. Abode grows with you and can be modified easily to fit your new living accommodations with more than 150 devices connected to protect and automate anything from studio apartments to large homes. The abode hub is software upgradeable, which means your home security system will always be up to speed, technologically speaking.

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As part of the anticipated chapter 11 process, the company has secured a commitment for $245 million in debtor in possession DIP financing that will be replaced by $295 million in exit financing at the completion of the reorganization. The support agreement contemplates that all trade claims whether arising prior to or after the commencement of the voluntary chapter 11 cases will be paid in full in the ordinary course of business, and that the company will continue operating its business without disruption to its customers, vendors, partners or employees. Ascent will, subject to, among other things, the receipt of the requisite approval of Ascent’s stockholders, merge into Monitronics. As a result of the merger, all assets of Ascent, including an anticipated approximately $23 million in cash, will become assets of Monitronics. Ascent’s stockholders are expected to receive approximately up to 5. 82 percent of the total shares of Monitronics common stock expected to be issued and outstanding immediately following completion of the reorganization and merger, but subject to dilution by certain shares issued under a management incentive plan for the company, in exchange for all then issued and outstanding shares of Ascent common stock. If, however, Ascent is expected to hold cash equal to or in excess of $20 million but less than the target cash amount as of the date of completion of the reorganization of Monitronics under the plan, the stockholders of Ascent will receive a proportionately lower percentage of shares of Monitronics common stock, and certain participants in the equity rights offering have agreed to contribute the shortfall. If Ascent is expected to hold less than $20 million in cash as of the date of completion of the reorganization of Monitronics under the plan, the merger will not be consummated, and certain participants in the equity rights offering have agreed to contribute the full target cash amount. Under the terms of the support agreement, Ascent must obtain approval for the merger from its stockholders within 65 days following the date on which Monitronics commences the chapter 11 cases. If the merger is not approved within 65 days following the petition date or the merger is not completed on the effective date of the plan for any reason, the merger will not occur, and the restructuring of Monitronics will be completed without the participation of Ascent. If the restructuring of Monitronics occurs without the participation of Ascent, Ascent’s equity interests in Monitronics will be cancelled without Ascent recovering any property or value on account of such equity interests.

Posted by Anonymous at 3:19PM | (8 comments)