Ivrnet Inc. provided the following update on the company's term loan and credit facility with R.C. Morris & Company Special Opportunities Fund III Limited Partnership ("RCM"), originally entered into on August 3, 2016 and for which the most recent amendment was announced on June 16, 2023. As at the date of this news release: the principal balance of the Loan is $3,283,692; the expiry date of the Loan is the earlier of October 31, 2023, and on demand by RCM; IVRNET is not in compliance with all of the financial covenant requirements of the Loan; and no demand for repayment has been made by RCM.