Amendment #4 Page 826 of 868
bible of Cement%
211Credit risk
Credit nsk is tre risk that a counter party we not meet as otegasons under a Martial instrument or customer contract eaong to a Inertial loss Tre Company is
exposed to treat nsk from its operating adrvbeS (pnmanty trade receivades) and from its financing actintee, "'eluding deposes with Darin and linanCifil
instnutgons
Eolas sole customers ate ['wort° and Dssur. Under the bower Roches° Agreement, credit terms we 37 days. and recenable balances with Orsnode and Ossur
are ctrent as of December 31, 2014 and 2013 An "%aimed analysis is performed at each reporting date on an nob/dual bases for major clients. however an
mourner, allowance has nat been recognized as customers' baranCeS are not ping due
Wth regards to credit risk on other financel assets. the maximum expostre to INS nsk s represented by the balances recorded for each financial asset Exposure
to credit nsk 4 rronitcred constarty in accordarne with tre debtors payment pewter
21.3 Lkitddity risk
The Company monitors its 'guilty on a dad/ basis. attempbng to maintain greater 'mad assets than liquid labglibes, considenng the maturity of its financial assets
It performs ash flow potence* on a penock tes* n order to timely detect potential cash shortages or excesses to support a operations
T re following table strnmanzes the maturity d the Cornpanys financial habilibeS based on payment cormernerts
As Cd December 31, 2014
°toil 'Ito 12 More than
months months 1 year Total
Acccunts payable S 88.1,174 S — S — $ 084.174
Noes and bare payable 3,968,104 439,686 79,440,447 83,836,117
Accrued interest payable 318,268 — — 318,268
Acauedexpenses e34.109 — — 404.109
Decommissoning daemon - - 319,728 319,728
S 5,3032.684 S 439,666 S 79,760,176 S 86.662396
As of December 31, 2013
0 to 6 Ito 12 More than 1
months months year Total
Accourts payable S 265,987 S — S — S 265.987
Notes and bane payable 1096,380 1.644 033 83.358 144 86.129137
Accrued greatest payable 342.403 — — 342.403
Acauedexpenses 1,333.138 — — 1.333 138
Decormussioning proration — — 238184 238.184
S 3.037,921 5 1644.030 5 83,626.328 $ 88308.849
22. Capital management
The Corrpany's main obtective egardng caplet management is to ensure that t maintains a solid credt ratio and healthy frandal caplet ratio& to Support its
business arid maxima. profits
F-505
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