In conjunction with the Eighth Amended Note, we were required to maintain certain financial covenants, including the requirement that we have at least $200,000 of cash in our bank accounts or such other amount as necessary to maintain operations through the subsequent thirty (30) days and timely pay any obligations due respecting payroll and all associated payroll taxes on and after December 31, 2013. Since we weren't able to meet the covenants as of December 31, 2013, we received a waiver from The RHL Group until April 5, 2014.
Would anyone care to speculate on the significance of April 5th?? I have my ideas, but was curious what others may think this date represents.
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