Ann: Agreement with Castlelake, LP, page-25

Financial Situation 31/3/2014
currents assets are $2,068,645, of which $1,844.991 is held in cash;
trade and other liabilities are $4,943,225;
borrowings are $32,049,587, including interest accrued to principal

20% interest on the loan means they owe an extra $1.6M

Liabilities exceed available cash.....

Forbearance agreement is a bit like being on death row.
You've been sentenced to death, you should already be dead, but some lawyer, is keeping you alive just.
Next execution date is set for 31st August 2014.....