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ISC8 INC. /DE FILES (8-K) Disclosing Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

June 13, 2014



Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

On June 9, 2014, ISC8 Inc. (the "Company") received notice (the "Notice") from Partners for Growth III, L.P. ("PFG") of PFG's declaration that the Company failed to pay certain principal and interest payments due pursuant to the Loan and Security Agreement by and between the Company and PFG, dated December 14, 2012 (the "Agreement"), and that the Company's failure to make these payments resulted in an Event of Default, as defined in the Agreement. Accordingly, it is PFG's position that all amounts due and payable to PFG under the Agreement, approximately $3.0 million, is now due and payable. The Company is currently working with PFG to cure any default and bring all amounts owed under the Agreement current.

Disclaimer.



This Current Report on Form 8-K may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may", "could", "would", "should", "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties.

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Source: Edgar Glimpses


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