eFuture redeems $1 million of senior convertibles due March 2012

By Tali David

Minneapolis, Nov. 28 - eFuture Information Technology Inc. announced that it has redeemed $1 million of its senior convertible notes due March 12, 2012.

eFuture said it purchased the notes for $1 million from institutional investors on Nov. 25, according to a press release. The sellers agreed to waive all outstanding interest payments.

The purchase was made from eFuture's cash reserves, and is not expected to have a material impact on the company's business operations or growth plans, according to the release.

Beijing-based e-Future develops supply chain management software in China.

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