said it was halting further sales of its stock holdings in
as the company had satisfied Merrill Lynch's
demand to pay off a $10 million line of credit received in March.
The technology incubator said it sold 732,500 shares of U.S. Wireless and will retain about 2.3 milion shares, or more than two-thirds of its initial holdings.
A significant portion of the proceeds received from draws on the Merrill line of credit were used to fund the operations of
, of which Global Technologies owns about 77% on a fully converted basis.
Shares of Global Technologies closed at 78 cents, off a 52-week high of $21.50 in trading on the