(Total Views: 552)
Posted On: 01/10/2022 11:16:21 PM
Post# of 145875
![](/m/assets/46931549/no_avatar_available_thumb.jpg)
Re: Firelife619 #114627
Samsung provided written notice to the Company of the Company’s material breach of the parties’ Master Services and Project Specific Agreements for failure to pay approximately $13.5 million due on December 31, 2021. An additional approximate $22.8 million is due under the agreements on January 31, 2022. These amounts are included in accounts payable at November 30, 2021. Under the agreements, the Company has 45 days to make commercially reasonable efforts to commence curing the breach. If such steps have not been taken during the cure period, Samsung may terminate the agreements upon 45 days’ notice. Management has communicated to Samsung its intent to commence curing the breach prior to the expiration of the cure period.
With the $6.5m bond for Amarex, that is $42.8m due in Jan.
With the $6.5m bond for Amarex, that is $42.8m due in Jan.
![](/m/images/thumb-up.png)
![](/m/images/thumb-down.png)