RE:RE:RE:RE:Don't worry....be happyTyJac1 wrote: Acquisition payable
The Company has an obligation of US $1,000,000, which was payable to the vendor as a part of the Maroon Hill acquisition. The amount was due January 14, 2014,on the 1st anniversary of the closing date of the Maroon Hill acquisition
. The Company is working on a payment schedule with the payee.The Company
has recognized a liability of $1,053,302 with respect to the anniversary payment.
Liquidity and Capital Resources
The Company commenced 2014 with a working capital deficit of $0.1million. The working capital deficit at March 31, 2014 was $0.5million.
Interest is being accrued, so far $53,302. The interest accrued from the compensation claim more or less will be cancelled out from the payment of interest from this liability.