The US Bankruptcy Court gave an interim order to obtain post petition financing to Cereplast, Inc. on March 10, 2014. The Court has authorized the debtor to incur interim post-petition financing from ProCap Funding Corp. of $0.25 million out of total $1 million at an interest rate of 5% per annum in the form of DIP revolver commitment.

In the event of default, the interest rate would be 9%. The maturity date will be March 24, 2014. The debtor agrees to pay to DIP lender a repayment fee equal to $0.25 million which will be fully earned upon the closing date.

The debtor will pay repayment fee of $0.25 million will be given if the assets are sold to someone else. The final hearing will be scheduled for March 20, 2014. Any objection to the Motion must be filed on or before March 17, 2014.