Obviously not happy about the 8-K. Schmitz, Hedges and Hughes own money is on the line.
The borrowings under the Loan Agreement are secured by limited guarantees (the "Guarantees") provided by two of the Company's officers, Chief Executive Officer William Schmitz and Acting Chief Financial Officer Molly Hedges, and one shareholder, Michael Hughes (collectively, the "Guarantors"). The Guarantors have established cash-collateral accounts with the Lender in an aggregate amount of $1,000,000.
I would expect something to happen soon, IF it is going to.
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