From filings of current quarter and prior year is that it shows loan amount of 4 mil they acquired via financing in first quarter of 2013. The notes payable increased from 500k to 1 mil. So it is 8% interest on 4 mil per year. The same loan amount of 4 mil shows as intangible assets since it is cash given to company.
I donot think Peter is giving any excuse but to grow company they have to get loan and they have to pay interest on loan. That is just nature of business. But I agree that they have to disclose in the filing or in the form of 8K.
If this financing indeed took place then it justifies their acquisition of Hydraki Naval.
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