Synergy CHC Corp

Synergy CHC reports it received a default notice from ACP Agency for failing to pay an interest payment that was due on August 3; the cure period expired on August 6. As a result, a standstill agreement terminated and a fee of $404,173.06 became payable; under the loan agreement approximately $17.6 million in principal plus accrued interest and costs remain outstanding. ACP reserves rights including default interest, acceleration of the obligations and other remedies. The company, with a market capitalization of $2.46 million, total debt of $27.75 million and a share price near its 52-week low, is under significant financial pressure; it also received a Nasdaq warning for falling below the $1.00 minimum bid price. » More on de.investing.com