Perhaps the issue is at Royal have agreed to pay $4.5 million to Mintech and Goldus by July 1 2014 and have paid out $1.335m already.
This agreement will exhaust all the money that Royal is holding in the bank.
The agreements that they replaced had payments occurring in 2018 and 2020.
Seems to be rather unusual decision to spend all the companies reserves in this market and in this way.
Ann: Razorback Ownership Secured , page-7
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