CRS Electronics defaults on loan, lays off all workers
CRS Electronics defaults on loan, lays off all workers
2015-10-09 18:14 ET - News Release
An anonymous director reports
CRS ELECTRONICS DEFAULTS ON LOAN AGREEMENT COVENANTS
CRS Electronics Inc. is in default of its loan agreement with Divinci Private Debt Fund. The loan amount is $1-million at 18 per cent for a total of $1,014,559.08. While co-ordinating next steps with Divinci Private Debt, CRS Electronics has laid off all workers.
Scott Riesebosch resigned from the board of directors but remains as the company's chief technology officer.
We seek Safe Harbor.
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