Affinity Technology extends maturity on $1.27 million in outstanding convertibles

By Sheri Kasprzak

New York, Aug. 9 - Affinity Technology Group, Inc. has extended the maturity on $1,268,027 in outstanding convertible notes.

The notes will now be due Aug. 8, 2008, moved back from 2007.

The 8% notes are convertible into common shares at $0.20 each for $1,115,068 in principal of the notes and at $0.50 each for $152,959 in principal.

The notes were first issued in May 2005 in principal of $1,355,336.

Based in Columbia, S.C., Affinity patents technologies used for the automated processing of loans, financial accounts and credit accounts.

The company's stock dropped by 4.55%, or 2 cents, to close at $0.42 (OTCBB: AFFI) on Wednesday.

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