Audiotronics Says It Will Pay Overdue Interest
Audiotronics Corp., a North Hollywood company that makes audiovisual products and educational programs, said it intends to make the interest payment on its $5.4-million convertible subordinated debentures that was due on Dec. 31, although “it is not clear” when payment will be made. The company said it is negotiating additional financing but nothing specific has been arranged yet.
Under the debt agreement, Audiotronics has a 30-day grace period on the interest payment before defaulting on the debt.
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