Debt Outstanding as at Sept-15-2014Look at Schedule B of the Agency Agreement between Dundee and Bioniche. It contains an itemized list of debt outstanding as at Sept 15. This is not in the prospectus, which contains only a March 31 pro-forma balance sheet which rolls through the sale of the Animal Health business.
Debt outstanding on the VMC is now just under $10 million.
Unless they make a payment on any of this debt between now and Sept 30th, this is the picture you will see when they publish their Sept 30th Q1 financial statements, normally released at the AGM in November.