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CARROLLTON, Texas-CellStar Corp. said it has obtained a waiver from its lenders under its domestic revolving credit facility to extend the date by which it must file its annual report for 2004 and its quarterly report for the period ended Feb. 28 to July 15.
The lenders have agreed to waive certain financial covenants for the quarters ended Nov. 20, 2004, and Feb. 28, 2005, as well as other quarters ended before Nov. 30, 2004, during which the company would not have been in compliance due to possible restatements of its finances.
A previous waiver expired May 31.
