if the hawkswood debt is not repaid by December 31st ADY pay the greater of a lump sum of $2m or 35% interest compounded monthly.
On top of this ADY have said they have secured a $5m credit facility with the funds due by end of the month.
Along with Ya Global offering a converting $5m debt facility which is also due by the end of the month.
Failure to eventuate and its clear ADY will not be able to meet the $3m payable to Hawkswood this month.
And its important to note ADY stated on the 14th of August they would have funds to pay out both Hawkswood and Ya Global on the day their debts fell due.
this didn't occur and ADY has gone on to roll over the Hawkswood debt on worse terms and now has secured (hopefully) lines of credit with Ya and Maestro.
It might come off and ADY holders had better hope all falls into place because come Nov 1,if NO money for Hawkswood its all over for ADY.
Hawkswood have control over ALL of the ADY assets and businesses.
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