Elite Pharmaceuticals Inc (ELTP)

[sharkey1]

Hey, Kayak, I can read legalees, If they don't make the payment then the lender takes over the company
he Company has approximately $47 million of unrestricted cash as of March 31, 2023. If the Company does not make this interest payment within the 30-day grace period, it will constitute an event of default under the indenture governing the convertible notes. If an event of default occurs, the trustee or the holders of at least 25% in aggregate principal amount of the outstanding convertible notes may declare 100% of the principal of, and accrued and unpaid interest on, all the convertible notes to be due and payable immediately.
Did I miss something? if they don't make the payments the banks take over,