Charles Taylor Group Plc V.MQL

RE: RE: RE: MQL

[barqshasbite]

I found this in a financial release. It seems that companies do in fact reduce their bank lines if they don't plan to use it all as a way to reduce cost.

The Bank renewed the credit facility on February 7, 2011. The maximum amount of the outstanding loan was not to exceed $5,700,000. The maximum amount was reduced to $3,000,000 at May 31, 2011 at the request of the Corporation in-order-to reduce the fee payable to the Bank on November 30, 2011 from $100,000 to $50,000.

This came Montana Exploration's Q3 financials. https://www.montanaexplorationcorp.com/en/financials/2011-q3.pdf page 7 of the income statement