RE:Numbers are out.. No fools Joke.Some of the Gems
We know the settlement amount.
On August 20, 2018, the Company entered into a settlement agreement with a customer, in the amount of $2,219,000, which provided the Company a Net claim settlement in satisfaction of existing and potential claims, causes of action, and disputes between the Company and its customer.
We financed more Dough.
On March 28, 2019, the Company entered into an amendment to its existing credit facility with a Canadian chartered bank whereby the following amendments were made: Maximum availability under the Revolving Loan cannot exceed USD$68,000,000 less USD$4,300,000, until April 30, 2019, at which time the agreement reverts back to existing terms. Availability under the Revolving Loan was increased on March 28, 2018, by USD$10,000,000 (“Expanded Loan”), subject to existing drawdown provisions, interest rates and bonus fees. Drawdowns under the Expanded Loan are supported by a major and material customer of the Company by way of a guarantee. The maturity of the Expanded Loan has been extended from March 31, 2019 to April 30, 2019.