Acura Pharmaceuticals (ACUR) has released an update.
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Abuse Deterrent Pharma, LLC, controlled by Mr. Schutte, has provided a $250,000 loan to a company, increasing its total debt to $5,169,279, due by March 31, 2024, with a 5.25% interest rate, escalating to 7.5% upon default. The funds are earmarked for operational costs through mid-March, but the company warns of potential operational scale-back or bankruptcy if additional financing is not secured, posing a risk of complete shareholder value loss. AD Pharma currently owns around 65% of the company’s common stock, excluding warrants for an additional 10 million shares.
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