The US Bankruptcy Court gave an order to Medizone International, Inc. to obtain DIP financing on an interim basis on June 1, 2018. As per the order, the debtor has been authorized to obtain a secured credit facility in the amount of $0.2 million from Edwin G. Marshall and Jill C. Marshall, N.M.D. The DIP loan would carry an interest rate of 10% p.a. along with an additional 4% p.a or 400 basis points increase, in the event of default. The loan will carry a fee of $25,000. The DIP facility would mature on the earliest of the September 30, 2018; the date if an event of default; or the date if any sale, abandonment or other disposition of any property of the debtor’s estate. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.02 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The final hearing is scheduled on June 14, 2018.