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PLAN OF MERGER AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)
6 Months Ended
Sep. 30, 2020
PLAN OF MERGER AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)  
Schedule of return of interests upon termination of merger agreement

Reason for Termination

 

Percentage of Elysium

Retained by

Camber

 

Termination of the Merger Agreement by mutual agreement of the parties because the conditions to closing the Merger relating to the receipt of exchange listing and regulatory approvals and the Registration Statement on Form S-4, being declared effective, have a reasonable likelihood of not being satisfied through no fault of Camber or Viking

 

 

20 %*

Termination of the Merger Agreement due to either (i) Camber’s determination not to proceed with the Merger even though Viking has substantially performed its obligations pursuant to the Merger Agreement (except as discussed below), or (ii) a matter raised in Camber’s Merger Agreement disclosure schedule which was (A) not disclosed by Camber in its SEC reports, (B) could reasonably result in a material adverse effect on Camber in excess of $500,000, and (c) which Viking objected to within 5 business days of disclosure by Camber to Viking

 

 

0 %*

Termination of the Merger Agreement due to the failure of Camber’s shareholders to approve the terms of the Merger

 

 

15 %*

Termination of the Merger Agreement by either party due to any other reason not set forth above through no fault of Camber

 

 

25 %*

In the event the Secured Notes are not repaid within 90 days of the date of termination and the Additional Payment (defined above) is not made

 

 

30 %
Schedule of investment in unconsolidated entity

 

 

2020

 

 

2019

 

Carrying amount at beginning of period

 

$ 957,169

 

 

$

 

Investment in Elysium

 

 

 

 

 

 

Equity change in net loss of unconsolidated entity applied to Long-Term Notes Receivable

 

 

1,182,952

 

 

 

 

Proportionate Share of Elysium Loss

 

 

(2,140,121 )

 

 

 

Carrying amount at end of period

 

$

 

 

$