Re: SAVING MONEY(FACT: the audit fees, not a few bucks to the SEC)/more

Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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turtlefoam

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Re: SAVING MONEY(FACT: the audit fees, not a few bucks to the SEC)/more

in response to

Re: SAVING MONEY (FACT: the audit fees, not a few bucks to the SEC)

no_bear

posted on May 06, 2013 12:58PM

Money was used from the DIP Credit Facility to fund and pay the 2011 Audit completed in 2012.

The Company had budgeted and begun the 2012 audit with PwC. However in March 2013, when Crystallex asked for a $10 million draw down, the DIP Lender reduced the draw down to $3 million and that would only be sufficient to fund and advance the ICSID case in the current period of CCAA Stay.

The Company expects to seek the capital required to complete the 2012 in the future.

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