I wonder if he is just talking about the AMAG debt because the rest was due post release.
AMAG, Inc. is a media investment company. It made a loan of $1,000,000, which has accumulated $346,063 of interest, towards the production cost of the film Yellow. In addition to repayment of principal and interest, AMAG shall receive a three percent participation in Yellow. This liability was assumed by the Company upon the acquisition of the rights in Yellow as of October 18, 2012. The Company is in the process of negotiating an extension and has made a payment since March 31, 2014 in reduction of the note. Annual interest is payable at 12%.
