(Total Views: 335)
Posted On: 05/21/2018 6:16:08 PM
Post# of 82690
Everyone should keep in mind that we still have one of the two litigation financing agreements for 1.5million available to us, if needed! It was referenced again in today's 10Q in Note 8 – Derivative Financial Instruments. Therefore any concern about our financial ability to survive until the lawsuits/contracts, etc., start producing significant revenues, can relax a little bit! 
The terms of the litigation funding agreement allow for additional funding of $1,500,000, between February 1, 2018 to January 31, 2019, which would require the Company to repay the funders an additional $5,000,000, plus a percentage of any claim proceeds thereafter. At March 31, 2018 and December 31, 2017, the Company has reflected the $1,500,000 as a contingent payment obligation to be paid only if claim proceeds are recovered.
The terms of the litigation funding agreement allow for additional funding of $1,500,000, between February 1, 2018 to January 31, 2019, which would require the Company to repay the funders an additional $5,000,000, plus a percentage of any claim proceeds thereafter. At March 31, 2018 and December 31, 2017, the Company has reflected the $1,500,000 as a contingent payment obligation to be paid only if claim proceeds are recovered.
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SFOR STRONG!!! GO SFOR!!!
