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clock Created with Sketch. 05/11/23
18:28
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Originally posted by doctornoh:
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$4.5m to negotiate a convenant amendment so that EOS could provide cash for a security deposit that brought in $55m in sales to a NATO country seems exorbitant to me, especially if the cash position of the Company is being improved through this large sale and reducing the risk for the Lender.
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"The big issue here is that EOS didnt get the appropriate legal agreement with the Lender prior to paying the cash deposit." I think that the big issue here is that EOS had to go to a third tier lender just to stay alive in the first instance.
(20min delay)