GREY:LFDEF - Post by User
Comment by
onxy10122012on Apr 02, 2020 4:13pm
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Post# 30873504
RE:RE:RE:RE:SADI 1.4 Million payment
RE:RE:RE:RE:SADI 1.4 Million payment To date, we have submitted claims totalling $8,028 for the reimbursement of eligible costs incurred between April 2016 and March 31, 2018 under the SADI funding agreement. At March 31, 2018, we recognized the grant portion of the eligible costs, amounting to $4,050, as a reduction of the capitalized OptiSAR development costs.
So if the grant money is not repayable ie 4050, there would be another available 13 million or so left that they could apply for from the total of 17.6 million then subtract the 1.4 million they just received that would leave approx 11.5 million of eligible funds they could be reimbursed for if the waiver remains in place or they get the 10 000 000 LOC they need to be in compliance and I think this will depend on UD financing in the future.
This is the latest totals for the SADI loan I could find in all the MD&A's to date.