Annual report pursuant to Section 13 and 15(d)

PLAN OF MERGER AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)

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PLAN OF MERGER AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)
12 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of return of interests upon termination of merger agreement

In the event of termination of the Merger Agreement, Camber is required, under certain circumstances described below, to return a portion of the Elysium interests to Viking:

 

Reason for Termination Percentage of Elysium Retained by Camber
The reasonable likelihood that the combined company will not meet the initial listing requirements of the NYSE American, required regulatory approvals will not be obtained, or the registration statement on Form S-4 will not be declared effective, through no fault of Camber or Viking 20%*
Termination of the Merger Agreement by either party, through no fault of Camber 25%*
Termination of the Merger Agreement due to a material breach of the Merger Agreement by Camber or its disclosure schedules 0%*
Termination of the Merger Agreement for any reason and in the event the Secured Notes (defined below) are not repaid within 90 days of the date of termination and the Additional Payment (defined below) is not made. 30%

 

 *Assumes the payment of Secured Notes within 90 days of the date of termination of the Merger Agreement and the Additional Payment (defined below) is made.

Schedule of investment in unconsolidated entity

Table below shows the changes in the Investment in entities for the years ended March 31, 2020 and 2019, respectively:

 

    2020     2019  
Carrying amount at beginning of year   $     $  
Investment in Elysium            
Proportionate Share of Elysium Earnings     957,169        
Carrying amount at end of year   $ 957,169     $