Item 8.01 Other Events.
On
The Limited Waiver concerns events of default that relate to the Company's
failure to satisfy certain financial and non-financial covenants under the
Financing Agreement. The Company is currently engaged in good faith negotiations
with Blue Torch, as agent for the Lenders, to amend the Financing Agreement and
cure the events of default, although we cannot assure you that we will be
successful in doing so. If the Company is unsuccessful in renegotiating the
Financing Agreement and curing the continuing events of default by the
expiration of the Waiver Period, the Company intends to seek further Limited
Waivers with Blue Torch, although we cannot assure you that Blue Torch would be
willing to grant additional waivers. For further information on the terms of the
Financing Agreement please refer to our Amended Annual Report on Form 10-K/A for
the fiscal year ended
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