Correct jonzobot - Relying on the financial hardship exemption triggered an automatic review which is normal practice when an issuer relies on this exemption. The closing of the $30 million Third Eye loan brought them back into compliance. 

Just using the main categories to compare then and now like payables, debt, promissory notes, cash and intangibles (IP), it is debatable whether or not they would be in compliance now should something trigger a review. On April 30/18, just prior to the Third Eye loan, they were sitting at about $22.9 million in the red. I don't think the $2.2 million of IP was pledged then but if it was, that would make it $25.1 million. As of March 31/22, they were $14.2 million in the red and $3.5 million IP which we know is pledged so actually $17.7 million in the red. $ 22.9 million isn't a huge amount more than $17.7 millon so it is hard to guess whether they are in compliance or not right now. We just haven't had a trigger like the exemption request to start a review yet.