RE:RE:US$500,000+ Contract Extension, SVB Update and Mgmt ChangeAll of that sounds good but until they become cash flow positive liquidity will always be an issue for Snipp.
I don't see any reason why they would be at risk of default and be "pleased to enter into" a forbearance agreement that doesn't include either a lack of receivables or a lack of liquidity. Based on the departure of the sales leader and his replacement by the CEO I am leaning towards a lack of sales.
Cutting costs is great and definately needed. Securing low cost funds is also great and definately needed but if they can't ramp up sales soon the math doesn't make sense, personally I'm still optimistic they will get it done but they are running out of time.