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Dynasil Corporation of America
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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