Dynasil Delays 10-K; Says Will Continue Talks with Lenders
Dynasil Corporation of America (NASDAQ: DYSL) today announced that the Company has failed to comply with the financial covenants set forth in the terms of its outstanding indebtedness for its fiscal fourth quarter ended September 30, 2012. These covenants require the Company to maintain specified ratios of earnings before interest, taxes, depreciation and amortization (EBITDA) to fixed charges and to total/senior debt.
The Company continues to be current with all principal and interest payments due on all its outstanding indebtedness and management expects to continue discussions with its lenders to address the financial covenant situation.
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