Bridgeport has committed to providing an initial round of $21M in funding to the company in the form of a two-year note. The note is structured in favor of the company and does not provide for toxic conversion. The funding will commence immediately and be completed in the first quarter of 2018.
(they've closed and now
The settlement payment will be made from the first transaction from the $21M investment. Longside, 3DCH, and K2 both had contracts for content that fell in dispute over the terms and payments made. Both lawsuits will be settled in the current calendar quarter. The company received a caveat emptor on the OTC markets for not having a current OTC IQ account and a promotion on an opt-in mail service being run. (hopefully all get settled ).

The company has also secured an additional commitment for $26M for further M&A beyond the current plan if opportunities present themselves. Discussions then turned to the functional aspects of the new business plan. A portion of the funding that has been secured will be used acquisitions in key areas of need. Given the plan of adding 2,500 titles to the library, there will be a need for expansion of 4K Studios. This will be done through acquiring other studios and