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Thursday, June 03, 2021 5:45:54 PM
Yet in the 3rd quarter of 2017, Northwest and Cognate were negotiating a reduction in payments owed for 2016 and 2017.
The Company owed an aggregate of $27.8 million of trade liabilities to certain related parties as of September 30, 2017 (after waiver by such related parties of $3.75 million related to certain payables, which was owed to them by the Company), based on invoicing to date while the Company and Cognate were negotiating an overall settlement of amounts owed for 2016 and 2017. Subsequent to September 30, 2017, the parties reached an agreement in principle for settlement of the overall amounts due, which the reduced the amounts that would otherwise have been owed under the contracts between the parties. The parties are now in the process of drafting and executing the agreement.
https://www.sec.gov/Archives/edgar/data/1072379/000114420417060217/tv479903_10q.htm
So I disagree that the disputes and/or negotiations for reductions took place after the ownership change.
Let me know if you still think differently and why.
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