ZRCN enters forbearance agreement after default; interest rate rises to 3.3%

ZRCN Inc.

Forbearance until Feb 28, 2026, due to defaults on Fixed Cost Coverage Ratio and other covenant.
Revolving interest rate increased from 3.0% to 3.3%; management fee from 0.2% to 0.3%.
Company must maintain minimum consolidated EBITDA and prepare weekly budgets.
Requires $2M capital contribution to subsidiary Zircon Corp by Feb 28, 2026.
Engage third-party consultant within 21 days to advise on operations.

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