During a recent earnings call, the CFO addressed the company’s financial stability, highlighting a C$2.45 million support package from directors and shareholders at a 12% interest rate, despite the absence of analyst inquiries.
A lender’s forbearance period ended in March, while another is now operating on a day-to-day basis. This situation has resulted in shareholders facing an $8 million claim that is subordinate to $45 million in secured debt, which is callable at any time.