5. The Company maintains a large number of outstanding loan obligations. To avoid default, the Company negotiated with its lenders and creditors and obtained a moratorium on interest charges until no sooner than June 2024. At that time, the Company committed to renegotiate the interest based on the current prime rate plus a percentage. However, interest is not accruing at this time and will not retroactively accrue. Prior applied interest is contained within the loan amount.
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