The line combines previous debt financing into one line and converts the debt from a short-term liability
to a long-term liability.
Widernik described features of extendible notes, a new short-term liability
type that has recently been gaining popularity.
Chris Brogdon, president, said the refinancing improves Retirement Care's financial position by transferring $2,000,000 from a short-term liability
to a long-term debt on the Company's balance sheet.