other material
confidence high
sentiment negative
materiality 0.60
Energy Focus issues $450K promissory note to director; CAO Clifford Griffin resigns
ENERGY FOCUS, INC/DE
- Issued $450,000 promissory note to board member Mei-Yun Huang at 8% interest, maturing June 16, 2023.
- Note is prepayable; events of default include payment failure and bankruptcy, with acceleration and 2% interest bump.
- Clifford R. Griffin resigned as SVP, Corporate Controller and Chief Accounting Officer; notice received Sept 20, 2022.