The Company is working with its lender of the term loan to restructure the repayment terms. Subsequent to the period end, the lender agreed to waive the first two instalment payments due November 30th and December 31st, 2010 effectively moving those instalments forward twelve months to November 30th and December 31st, 2011. The Company expects to finalize the restructuring in January 2011.
During the quarter, the Company used cash of $18,383 in operations compared to $452,763 in the same period in the prior year for a decrease of $434,380.