Ideanomics Inc (IDEX)

[lesgetrich]

Essentially the company is putting roughly half their remaining loan balance ($8,333,333.50) into escrow, and it will be paid to the lender if they fail to file all their reports by September 12 as they've announced is their intention. If they file all their reports, as they've said they would, then they get to keep the escrow deposit, but their loan payment obligations will continue as before.

Basically, they're trying to reassure the lender that their investment is safe and the reports will be filed by September 12.