we currently manufacture and sell topical , injectable and ophthalmic generic pharmaceutical products under our own label in both the us and canada . in the united states , the three large wholesale drug distributors are amerisource bergen corporation ( `` abc `` ) ; cardinal health , inc. ( `` cardinal `` ) ; and mckesson drug company , ( `` mckesson `` ) . abc , cardinal and mckesson are key distributors of our products , as well as a broad range of health care products for many other companies . none of these distributors is an end user of our products . generally , if sales to any one of these distributors were to diminish or cease , we believe that the end users of our products would likely find little difficulty obtaining our products either directly from us or from another distributor . however , the loss of one or more of these distributors , together with a delay or inability to secure an alternative distribution source for end users , could have a material negative impact on our revenue , business , financial condition and results of operations . there are generally three major negotiating entities in the us market . walgreens boots alliance development ( wbad ) consists of walgreens and amerisource bergen 's prxo generics program . red oak sourcing consists of cvs and cardinal 's source programs . finally , clarusone consists of walmart , riteaid and mckesson 's onestop program . a loss of any of these major entities could result in a significant reduction in revenue . we consider our business relationships with abc , cardinal and mckesson to be in good standing , and we have fee for services contracts with each of them . however , a change in purchasing patterns , a decrease in inventory levels , an increase in returns of our products , delays in purchasing products and delays in payment for products by one or more of these distributors could have a material negative impact on our revenue , business , financial condition and results of operations . we continue to explore business development opportunities to add additional products and or capabilities to our existing portfolio and to expand our private label and contract manufacturing service opportunities . we have two platforms for growth : developing , manufacturing and marketing a portfolio of generic pharmaceutical products under our own or a private label in topical , injectable and other high-barrier forms ; and managing and expanding our current private label and contract development and manufacturing business . since 2010 , the primary focus of our strategy has been on the growth of our own generic prescription pharmaceutical business particularly within the generic topical pharmaceutical product market , while moderating our contract development and manufacturing to the prescription and otc pharmaceutical and cosmetic markets . in 2014 , we broadened our primary target product focus from topical pharmaceuticals to include a wider approach focused on high-barrier generic prescription pharmaceutical products and generic and branded generic injectable pharmaceutical products . we believed that expanding our development and commercial base beyond topical generics , historically the cornerstone of our expertise , to include injectable generics and other high-barrier dosage forms would leverage our existing expertise and capabilities , and broaden our platform for diversified strategic growth . while we experienced some success in that regard , during the last year , as we have experienced the unfavorable impacts of the covid-19 pandemic on our business , we have begun to reexamine all of our expertise and assets in order to reinvigorate and bolster our business . this has resulted in our placing additional emphasis on the development of our private label business as well as our contract development and manufacturing business . following five approvals from our internally developed pipeline of topical generic products in 2019 , there were no approvals from our internally developed pipeline of topical generic products in 2020. we continue to be opportunistic in efforts to license or acquire further products , intellectual property , or pending applications to expand our portfolio . we expect to accelerate our growth through the creation of unique opportunities based on the acquisition of additional intellectual property and or the expansion of the use of our existing intellectual property . we are also exploring the options to monetize certain of our non-core assets . based on iqvia ( nyse : iqv ) data , the addressable market for the seven anda topical filings and three ndas that we have pending with the fda is estimated to total over $ 140 million per annum . we expect to continue to expand our presence in the generic topical and generic injectable pharmaceutical markets through the submission of additional andas to the fda and the subsequent launch of products if and when these applications are approved by the fda . product and pipeline approvals there were no significant approvals announced in 2020 . the following is a summary of significant approvals announced in 2019 : on january 2 , 2019 , we announced approval of an anda for gentamicin sulfate ointment usp , 0.1 % . this was our thirty-second approval from our internally developed pipeline of topical generic pharmaceutical medicines . we launched this product in the first quarter of 2019. on january 24 , 2019 , we announced approval of an anda for clobetasol propionate ointment usp , 0.05 % . this was our first approval for 2019 , and our thirty-third approval from our internally developed pipeline of topical generic pharmaceutical medicines . we launched this product in the first quarter of 2019. on march 14 , 2019 , we announced approval of an anda for desonide ointment , 0.05 % . this was our second approval of 2019 , and our thirty-fourth approval from our internally developed pipeline of topical generic pharmaceutical medicines . story_separator_special_tag if only one of those items occurs by december 13 , 2020 , then the company may still elect to pay interest in kind during 2021 , but only from the time the second condition has been satisfied until december 13 , 2021. thereafter , a portion of interest on the loans accruing at a rate of 4.25 % per annum may continue to be paid in kind . both april 2020 amendments provide that in the event of receipt of net proceeds from a disposition triggering a mandatory prepayment , net proceeds of such disposition will be applied as follows : ( i ) first , to be retained by the company or applied to amounts outstanding under the first lien credit agreement until such time as liquidity of the company and its subsidiaries equals $ 10.0 million , ( ii ) next to amounts outstanding under the revolver ( without a permanent reduction in the revolving loan commitments of the lenders ) until such amounts are paid in full ( with the first lien administrative agent having the right to waive such prepayment , in which event , such net proceeds are applied to amounts outstanding under the second lien credit agreement ) , and ( iii ) finally , to amounts outstanding under the term loans . in addition , pursuant to the revolver , the company has agreed at all times to maintain book cash of the company and its subsidiaries not in excess of $ 10.0 million with any excess being required to prepay the outstanding obligations under the revolver . after giving effect to the april amendments , the effective interest rates , inclusive of the debt discounts and issuance costs for the initial term loan and delayed draw term loan a were between 16.6 % and 17.7 % and for the various borrowing tranches of the revolver , were between 9.6 % and 10.9 % . in connection with the term loan amendments dated april 6 , 2020 , the company issued to the term loan lenders certain warrants to purchase up to , in the aggregate , 538,995 of post reverse stock split shares of the company 's common stock at an exercise price of $ 0.01 per share . the warrants initially were recorded at fair value upon issuance and classified as a liability as the company did not have sufficient authorized unissued shares for the warrants ' exercise . the warrants were remeasured to fair value up to the reverse stock split date , with any fair value adjustments recognized in the condensed consolidated statements of operations . the warrants were reclassified as equity at their fair value upon the reverse stock split date and will not be remeasured subsequently . the estimated fair value of the warrants on the date of issuance of $ 1.4 million was recorded as a debt discount . the warrants had a fair value of $ 2.2 million as of the reverse stock split date which was reclassified to equity . the warrants are exercisable at any time after the reverse stock split which occurred on may 28 , 2020 and will remain exercisable , in whole or in part , for a period of 5 years from the issuance date . as of december 31 , 2020 , all 538,995 warrants remain outstanding ( note 9 ) . the number of shares issuable upon the exercise of the warrants is subject to customary adjustments upon the occurrence of certain events , including ( i ) payment of a dividend or distribution to holders of shares of the company 's common stock payable in shares of the company 's common stock , ( ii ) a subdivision , capital reorganization or reclassification of the company 's common stock or ( iii ) a merger , sale or other change of control transaction . on july 20 , 2020 , the company entered into ( i ) a consent and amendment no . 3 to first lien revolving credit agreement ( the “ first lien amendment ” ) , and ( ii ) a consent and amendment no . 5 to second lien credit agreement ( the “ second lien amendment ” ) . the first lien amendment amended the first lien credit agreement to , among other things , ( i ) permit the issuance of the series c notes and the other transactions contemplated by the indenture related thereto , ( ii ) modify the terms of certain mandatory prepayments , ( iii ) modify certain negative covenants and ( iv ) modify certain financial covenants . the july 2020 second lien amendment amended the second lien credit agreement to , among other things , ( i ) permit the issuance of the series c notes and the other transactions contemplated by the indenture related thereto , ( ii ) modify the terms of certain mandatory prepayments , ( iii ) modify certain negative covenants , ( iv ) modify certain financial covenants and ( v ) extend the time period in which the company may elect to pay interest in kind . in connection with the transactions contemplated by the july 2020 second lien amendment , the company issued to the lenders party to the second lien credit agreement certain warrants to purchase shares of the company 's common stock . the warrants are exercisable for up to , in the aggregate , 134,667 shares of the company 's common stock at an exercise price of $ 0.01 per share of common stock . the warrants are immediately exercisable upon issuance and will remain exercisable , in whole or in part , for a period of five years from the original issuance date . the number of shares issuable upon the exercise of the warrants is subject to customary adjustments upon the occurrence of certain events , including ( i ) payment of a dividend or distribution to holders of shares of

liquidity and capital resources the company has incurred significant losses and generated negative cash flows from operations in recent years and expects to continue to incur losses and generate negative cash flow for the foreseeable future . as a result , we had an accumulated deficit of $ 243.5 million , total principal amount of outstanding borrowings of $ 181.6 million , and limited capital resources to fund ongoing operations at december 31 , 2020. these capital resources were comprised of cash and equivalents of $ 6.7 million at december 31 , 2020 and the generation of cash inflows from working capital . the company is not currently generating revenues from operations that are sufficient to cover its operating expenses , and its available capital resources are not sufficient for it to continue to meet its obligations as they become due . as a result , the company has engaged financial and legal advisors to assist it in , among other things , analyzing all available strategic alternatives to address its liquidity and capital structure . however , the company can not provide assurances that additional capital will be available when needed or that any strategic alternatives or restructuring pursued will be on acceptable terms . the company 's liquidity needs have typically arisen from the funding of its new manufacturing facility , product manufacturing costs , research and development programs , and the launch of new products . in the past , the company has met these cash requirements through cash inflows from operations , working capital management , and proceeds from borrowings . although the construction of the company 's new manufacturing facility was substantially completed in october 2018 , additional investment was made in order to prepare the facility and the company 's employees for a prior approval inspection from the fda for the new injectable line .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources the company has incurred significant losses and generated negative cash flows from operations in recent years and expects to continue to incur losses and generate negative cash flow for the foreseeable future . as a result , we had an accumulated deficit of $ 243.5 million , total principal amount of outstanding borrowings of $ 181.6 million , and limited capital resources to fund ongoing operations at december 31 , 2020. these capital resources were comprised of cash and equivalents of $ 6.7 million at december 31 , 2020 and the generation of cash inflows from working capital . the company is not currently generating revenues from operations that are sufficient to cover its operating expenses , and its available capital resources are not sufficient for it to continue to meet its obligations as they become due . as a result , the company has engaged financial and legal advisors to assist it in , among other things , analyzing all available strategic alternatives to address its liquidity and capital structure . however , the company can not provide assurances that additional capital will be available when needed or that any strategic alternatives or restructuring pursued will be on acceptable terms . the company 's liquidity needs have typically arisen from the funding of its new manufacturing facility , product manufacturing costs , research and development programs , and the launch of new products . in the past , the company has met these cash requirements through cash inflows from operations , working capital management , and proceeds from borrowings . although the construction of the company 's new manufacturing facility was substantially completed in october 2018 , additional investment was made in order to prepare the facility and the company 's employees for a prior approval inspection from the fda for the new injectable line .
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 Suspicious Activity Report : we currently manufacture and sell topical , injectable and ophthalmic generic pharmaceutical products under our own label in both the us and canada . in the united states , the three large wholesale drug distributors are amerisource bergen corporation ( `` abc `` ) ; cardinal health , inc. ( `` cardinal `` ) ; and mckesson drug company , ( `` mckesson `` ) . abc , cardinal and mckesson are key distributors of our products , as well as a broad range of health care products for many other companies . none of these distributors is an end user of our products . generally , if sales to any one of these distributors were to diminish or cease , we believe that the end users of our products would likely find little difficulty obtaining our products either directly from us or from another distributor . however , the loss of one or more of these distributors , together with a delay or inability to secure an alternative distribution source for end users , could have a material negative impact on our revenue , business , financial condition and results of operations . there are generally three major negotiating entities in the us market . walgreens boots alliance development ( wbad ) consists of walgreens and amerisource bergen 's prxo generics program . red oak sourcing consists of cvs and cardinal 's source programs . finally , clarusone consists of walmart , riteaid and mckesson 's onestop program . a loss of any of these major entities could result in a significant reduction in revenue . we consider our business relationships with abc , cardinal and mckesson to be in good standing , and we have fee for services contracts with each of them . however , a change in purchasing patterns , a decrease in inventory levels , an increase in returns of our products , delays in purchasing products and delays in payment for products by one or more of these distributors could have a material negative impact on our revenue , business , financial condition and results of operations . we continue to explore business development opportunities to add additional products and or capabilities to our existing portfolio and to expand our private label and contract manufacturing service opportunities . we have two platforms for growth : developing , manufacturing and marketing a portfolio of generic pharmaceutical products under our own or a private label in topical , injectable and other high-barrier forms ; and managing and expanding our current private label and contract development and manufacturing business . since 2010 , the primary focus of our strategy has been on the growth of our own generic prescription pharmaceutical business particularly within the generic topical pharmaceutical product market , while moderating our contract development and manufacturing to the prescription and otc pharmaceutical and cosmetic markets . in 2014 , we broadened our primary target product focus from topical pharmaceuticals to include a wider approach focused on high-barrier generic prescription pharmaceutical products and generic and branded generic injectable pharmaceutical products . we believed that expanding our development and commercial base beyond topical generics , historically the cornerstone of our expertise , to include injectable generics and other high-barrier dosage forms would leverage our existing expertise and capabilities , and broaden our platform for diversified strategic growth . while we experienced some success in that regard , during the last year , as we have experienced the unfavorable impacts of the covid-19 pandemic on our business , we have begun to reexamine all of our expertise and assets in order to reinvigorate and bolster our business . this has resulted in our placing additional emphasis on the development of our private label business as well as our contract development and manufacturing business . following five approvals from our internally developed pipeline of topical generic products in 2019 , there were no approvals from our internally developed pipeline of topical generic products in 2020. we continue to be opportunistic in efforts to license or acquire further products , intellectual property , or pending applications to expand our portfolio . we expect to accelerate our growth through the creation of unique opportunities based on the acquisition of additional intellectual property and or the expansion of the use of our existing intellectual property . we are also exploring the options to monetize certain of our non-core assets . based on iqvia ( nyse : iqv ) data , the addressable market for the seven anda topical filings and three ndas that we have pending with the fda is estimated to total over $ 140 million per annum . we expect to continue to expand our presence in the generic topical and generic injectable pharmaceutical markets through the submission of additional andas to the fda and the subsequent launch of products if and when these applications are approved by the fda . product and pipeline approvals there were no significant approvals announced in 2020 . the following is a summary of significant approvals announced in 2019 : on january 2 , 2019 , we announced approval of an anda for gentamicin sulfate ointment usp , 0.1 % . this was our thirty-second approval from our internally developed pipeline of topical generic pharmaceutical medicines . we launched this product in the first quarter of 2019. on january 24 , 2019 , we announced approval of an anda for clobetasol propionate ointment usp , 0.05 % . this was our first approval for 2019 , and our thirty-third approval from our internally developed pipeline of topical generic pharmaceutical medicines . we launched this product in the first quarter of 2019. on march 14 , 2019 , we announced approval of an anda for desonide ointment , 0.05 % . this was our second approval of 2019 , and our thirty-fourth approval from our internally developed pipeline of topical generic pharmaceutical medicines . story_separator_special_tag if only one of those items occurs by december 13 , 2020 , then the company may still elect to pay interest in kind during 2021 , but only from the time the second condition has been satisfied until december 13 , 2021. thereafter , a portion of interest on the loans accruing at a rate of 4.25 % per annum may continue to be paid in kind . both april 2020 amendments provide that in the event of receipt of net proceeds from a disposition triggering a mandatory prepayment , net proceeds of such disposition will be applied as follows : ( i ) first , to be retained by the company or applied to amounts outstanding under the first lien credit agreement until such time as liquidity of the company and its subsidiaries equals $ 10.0 million , ( ii ) next to amounts outstanding under the revolver ( without a permanent reduction in the revolving loan commitments of the lenders ) until such amounts are paid in full ( with the first lien administrative agent having the right to waive such prepayment , in which event , such net proceeds are applied to amounts outstanding under the second lien credit agreement ) , and ( iii ) finally , to amounts outstanding under the term loans . in addition , pursuant to the revolver , the company has agreed at all times to maintain book cash of the company and its subsidiaries not in excess of $ 10.0 million with any excess being required to prepay the outstanding obligations under the revolver . after giving effect to the april amendments , the effective interest rates , inclusive of the debt discounts and issuance costs for the initial term loan and delayed draw term loan a were between 16.6 % and 17.7 % and for the various borrowing tranches of the revolver , were between 9.6 % and 10.9 % . in connection with the term loan amendments dated april 6 , 2020 , the company issued to the term loan lenders certain warrants to purchase up to , in the aggregate , 538,995 of post reverse stock split shares of the company 's common stock at an exercise price of $ 0.01 per share . the warrants initially were recorded at fair value upon issuance and classified as a liability as the company did not have sufficient authorized unissued shares for the warrants ' exercise . the warrants were remeasured to fair value up to the reverse stock split date , with any fair value adjustments recognized in the condensed consolidated statements of operations . the warrants were reclassified as equity at their fair value upon the reverse stock split date and will not be remeasured subsequently . the estimated fair value of the warrants on the date of issuance of $ 1.4 million was recorded as a debt discount . the warrants had a fair value of $ 2.2 million as of the reverse stock split date which was reclassified to equity . the warrants are exercisable at any time after the reverse stock split which occurred on may 28 , 2020 and will remain exercisable , in whole or in part , for a period of 5 years from the issuance date . as of december 31 , 2020 , all 538,995 warrants remain outstanding ( note 9 ) . the number of shares issuable upon the exercise of the warrants is subject to customary adjustments upon the occurrence of certain events , including ( i ) payment of a dividend or distribution to holders of shares of the company 's common stock payable in shares of the company 's common stock , ( ii ) a subdivision , capital reorganization or reclassification of the company 's common stock or ( iii ) a merger , sale or other change of control transaction . on july 20 , 2020 , the company entered into ( i ) a consent and amendment no . 3 to first lien revolving credit agreement ( the “ first lien amendment ” ) , and ( ii ) a consent and amendment no . 5 to second lien credit agreement ( the “ second lien amendment ” ) . the first lien amendment amended the first lien credit agreement to , among other things , ( i ) permit the issuance of the series c notes and the other transactions contemplated by the indenture related thereto , ( ii ) modify the terms of certain mandatory prepayments , ( iii ) modify certain negative covenants and ( iv ) modify certain financial covenants . the july 2020 second lien amendment amended the second lien credit agreement to , among other things , ( i ) permit the issuance of the series c notes and the other transactions contemplated by the indenture related thereto , ( ii ) modify the terms of certain mandatory prepayments , ( iii ) modify certain negative covenants , ( iv ) modify certain financial covenants and ( v ) extend the time period in which the company may elect to pay interest in kind . in connection with the transactions contemplated by the july 2020 second lien amendment , the company issued to the lenders party to the second lien credit agreement certain warrants to purchase shares of the company 's common stock . the warrants are exercisable for up to , in the aggregate , 134,667 shares of the company 's common stock at an exercise price of $ 0.01 per share of common stock . the warrants are immediately exercisable upon issuance and will remain exercisable , in whole or in part , for a period of five years from the original issuance date . the number of shares issuable upon the exercise of the warrants is subject to customary adjustments upon the occurrence of certain events , including ( i ) payment of a dividend or distribution to holders of shares of

