Trakopolis IoT Corp. announced that it has entered into an agreement with ESW Holdings Inc. its senior secured lender, in respect of its USD 3.0 million secured credit facility. Among other things, the Amending Agreement updates the company’s reporting obligations and adds a requirement for Trakopolis to report on its ongoing strategic process which involves the identification of capital market alternatives available to it including financing transactions and potential strategic combinations. The strategic review is being conducted by a Special Committee of the Board of Directors with the assistance of external legal and financial advisors. The Amending Agreement requires the Company to provide ESW with its repayment plan for the Credit Facility, which must be satisfactory to ESW, and resets downward the liquidity covenants. The Amending Agreement specifies additional events of default and can be terminated at the election of ESW in certain circumstances. In addition, the Company is required to raise approximately USD 80,000 in additional capital. It is expected that much of this additional capital will come from the Company’s management team and certain commitments have been received in this regard.