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has received a waiver from a holder of its Series A Convertible Preferred Stock that postpones the consequences of a specified triggering event until January 31, 2027.
The company disclosed the agreement in a Form 8-K filed with the Securities and Exchange Commission on October 1, 2026, detailing how the waiver alters the financial obligations associated with its preferred stock.
Under Section 5(a)(xv) of the certificate of designations for the Series A Preferred Stock, a triggering event occurs if any shares of the stock remain outstanding on or after September 30, 2026.
This condition, defined as the Specified Event, would normally activate significant penalties for the company.
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