9. The balance sheet for Cal-Ore provided in Exhibit 6 of A.04-05-039 shows long-term liabilities in the amount of $6.52 million.

a. Please summarize the material terms and conditions of these liabilities, particularly the terms and conditions applicable to the repayment of the debt and interest rate(s) associated with the debt.

b. Will the long-term liabilities remain outstanding after the Purchasers have acquired COTC? If not, please explain how the debt will be retired and what sources of capital, if any, will replace the retired debt.