Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 151

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 151
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 June 25, 2024, as follows:  OriginalAs AmendedFiscal QuarterFixed Charge Coverage RatioFixed Charge Coverage RatioEach fiscal quarter ending on or after June 30, 2023 through June 30, 20241.2:1.01.2:1.0Fiscal quarter ending on or after September 30, 2024 through March 31, 20251.2:1.01.15:1.0Each fiscal quarter ending on or after June 30, 20251.2:1.01.2:1.0    Leverage RatioLeverage RatioEach fiscal quarter ending on or after June 30, 2023 through September 30, 20232.75:1.02.75:1.0Fiscal quarter ending December 31, 20232.5:1.02.5:1.0Fiscal quarter ending March 31, 20242.5:1.02.75:1.0Each fiscal quarter ending on or after June 30, 2024 through September 30, 20242.5:1.03.5:1.0Fiscal quarter ending December 31, 20242.5:1.03.0:1.0Fiscal quarter ending March 31, 20252.5:1.02.85:1.0Each fiscal quarter ending on or after June 30, 20252.5:1.02.75:1.0

 F-20Table of Contents

Additionally, as long as the Company maintains a Leverage Ratio greater than 2.75:1.0, the Company is required to maintain unrestricted liquidity, as defined in the amendment, of not less than $1,500,000, beginning June 30, 2024. As of December 31,2024, the Company was not in compliance with the above covenants. However, with sale of the Purchased Assets and simultaneous restructuring of the Credit Agreement (See Note 15: Subsequent Events) the above covenants were modified that the Company is in compliance and based on future projections expects to be in Compliance for the following twelve months.  The Credit Agreement also contains customary affirmative covenants for a transaction of this nature, including among other things, covenants relating to: maintenance of adequate financial and accounting books and records, delivery of financial statements and other information, preservation