From the SEC filing.
Does not look good!!!
- The Company is late on the October lease payment for its King of Prussia, Pennsylvania facility and is therefore in default under the lease. The Company expects to use proceeds received in connection with the Amendments to make the payment along with accrued interest.
- Mechanics liens have been filed on the Company’s York, Pennsylvania premises by a Company contractor at that facility, and subcontractors to that contractor have provided notice of intent to file mechanics liens as well. The Company expects to pursue fundraising opportunities in order to make payments to both the contractor and subcontractors. Unless and until the Company receives additional funding, further mechanics liens may be filed.
- Unilife received notice from an equipment provider dated October 9, 2015 that the Company is past due on a purchase order and that the nonpayment constitutes a default under the purchase order. The Company expects to use proceeds received in connection with the Amendments to make payment on the purchase order.
- A supplier filed a complaint against the Company on October 5, 2015 for non-payment of invoices for products provided to Company. The Companyhas since paid the amount owed.
- The Company is late and in default under a purchase order with one of its suppliers. The Company maintains communications with the supplier and has verbally agreed with the supplier on a payment schedule.
- Litigation filed on April 8, 2013 by Biodel, Inc.
- Administrative claim before the Pennsylvania Human Relations Commission filed on September 29, 2015 by a former employee/machine operator.
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