We two more important shareholders, I call them strategic shareholders. One of them is Argonaut Gold and they hold a 12% position. They inherited approximately 10 million shares as compensation for the mine acquisition. We paid them to Alio Gold then Argonaut Gold acquired Alio. They’re good shareholders, they’re always calling, they’re always checking on how can they help.
(1) On May 6, 2021, the Company entered into an agreement to settle a significant portion of the balance of receivables from acquisition for total proceeds of $7,675. Upon settlement, the Company recognized a gain on settlement of receivables from acquisition of $1,751 over the book value of components comprising the receivables from acquisition (note 14). The Company received $5,000 in cash on the date of settlement and a short-term promissory note in the amount of $2,675 to be paid in four equal installment payments from July to October 2021. The unsecured short-term promissory note includes an interest rate of 5.0% per annum. At June 30, 2021, the Company had accrued $22 in accrued interest receivable on the promissory note.
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