Eguana Technologies (TSE:EGT) has released an update.
Eguana Technologies Inc., a leader in energy storage systems, has switched its auditor from KPMG LLP to MNP LLP and is facing near and medium-term cash constraints due to missed payments from a major U.S. customer. Despite these challenges, the customer has increased sales and started making weekly payments. The company is in ongoing negotiations regarding its senior long-term debt payments after failing to make a scheduled interest-only payment, which could lead to a formal default.
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