In addition, each lender could seek to foreclose and obtain possession or force the sale of substantially all of the Company’s assets, including its products under development, pursuant to its security interest. As of the date of this Report, none of the lenders have taken any action to redeem the 2007 Notes or to foreclose on the Company’s assets. The Company is presently in discussions with the lenders and is seeking a waiver of this default.,
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.