Elephant Talk (ETAK) Reports Q2 Loss of $0.02/Share
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Elephant Talk (ETAK) Announces Refinancing, Commercial Update
August 15, 2016 6:12 PM EDTElephant Talk Communications Corp. (NYSE: ETAK) ("ET" or the "Company"), a provider of cloud-based mobile network solutions, today announced that it had reached agreement in principle with its senior secured lender to increase and restructure its existing $6 million loan.
Under the terms of the proposed Second Amendment, the senior secured lender will increase the loan facility by $1,202,447, waive the Company's existing defaults under the financial covenants and will reset the agreed maturity date to December 31, 2016, among other changes.
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