The US Bankruptcy Court gave an order to BioNitrogen Holdings Corp to obtain DIP financing on an interim basis on December 28, 2016. As per the order, the debtor has been authorized to obtain a credit facility in the amount of $0.05 million from Pentant LLC. The DIP facility will be used for the purpose of funding debtors' counsel, administrative legal fees, expenses retainer and pay patent certificates in the Peoples Republic of China.

The final hearing has been scheduled for January 21, 2016.