The US Bankruptcy Court gave an order to GeneLink Inc. to obtain DIP financing on an interim basis on April 28, 2014. As per the order, the debtor has been authorized to obtain a term loan in the amount of $0.18 million out of $1 million from GeneLink DIP, LLC. The DIP loan would carry an interest rate of 6.25% p.a along with an additional 5% p.a. interest in the event of default.

The DIP facility would mature either on April 25, 2014 or 15 days after confirmation of the plan or in the event of default, whichever is earlier. A continued heading on the motion is scheduled for May 7, 2014. The debtor shall promptly pay all attorneys' awarded by the Court.