Applied Minerals Inc (AMNL)

[Masta SkillZ]

I knew the debt elimination seemed too good to be true. Oh well, a $1.9m injection is still good for a company with a market cap of $1m.

Any idea what this part means though?

(h) Upon the closing of the Four Agreements, AMI will pay a total of $375,000 to the holders of the majority of the outstanding principal of the Series A Notes in exchange for the Series A Waiver and a total of $375,000 to the holders of the majority of the outstanding principal of the Series 2023 Notes in exchange for the Series 2023 Waiver.

Is it just a payment to the noteholders or are they amending some terms of the debt?