How Broke Is IZRead the Q2 MD&A yourself to see if you have the CCAA dancing in your heads, -
On December 14, 2023, the Company and an officer/director of the Company signed a financing agreement to provide a bridge loan of $50,000 to the Company. The Bridge Loan bears interest at 7% per annum plus a lumpsum amount of $6,000 and is repayable on the maturity date of April 15, 2024. The Bridge Loan is secured by a first ranking charge in favour of the lending party over all of the Company’s assets. During the six months ended December 31, 2023, the Company accrued interest of $163 (2022 - $nil) on the loan.