Why would they agree to a lien over the product in a logistics contract in the first place??? That now explains why they could not get debt.
In a nutshell they signed an idiotic contract minimum quantities, lien and minimum charges. They could mot raise debt because of lien. They could not increase production because they could not raise debt. Then they became liable for minimum charges because they could not increase production.
And now by removing lien they would be able to raise debt to pay for the stuff up in monthly instalments.
What an own goal by a bunch of incompetents!
I'm fckn livid
CXM Price at posting:
5.6¢ Sentiment: Sell Disclosure: Held
