The corporate update

However, there has been no judicial determination of any charge as alleged. The note-holders have agreed to negotiate a forbearance agreement which will stay the notice of default for a period of time that should be sufficient to complete the financing noted above and provide funds to settle the lien claims. In the event the forbearance agreement cannot be completed, the Company will defend this alleged default vigorously.

This news is not as bad as it sounds. The noteholders have agreed to negotiate a forbearance agreement. Things really have not changed from before.

Although it seems to be taking forever to get the financing closed but looking at the market - it is what it is.

(I cannot get rid of this underling - so I apologize in advance.)