A few days ago, I've already wrote a post that VRX doesn't have such a bad situation as everybody is thinking. But yesterday, the company has launched the process to obtain an amendment and waiver to its credit facility.Pursuant to the proposed waiver, the Company is seeking to extend the deadline for filing its Form 10-K to May 31, 2016 and to extend the deadline for filing its Form 10-Q for the quarter ending March 31, 2016 to July 31, 2016. While the Company is working diligently to file its Form 10-K and Form 10-Q, these extensions provide relief under the credit facility in the event the Form 10-K is not filed by April 29, 2016 and the Form 10-Q is not filed by June 14, 2016. I don't think that long-term value investors should evaluate this as a bad signal. In the meantime the company also announced that it is comfortable with its current liquidity position and cash flow generation for the rest of the year. That's what I showed a few days ago in this article. I think current problem is deeper than just the debt repayment, perhaps VRX management took an obligation with certain unusual terms and definitions and it could probably cost a company a lot. I am still positive on VRX, I think this weakness is temporary, but the stock's recovery we can see in Q3 as earliest.