Eros STX Global (NYSE:ESGC) is 2.8% lower postmarket after noting it’s filed an extension on its fiscal 2021 annual report, and issued an update on restructuring its debt.

Its Form 20-F was originally due yesterday, but a new filing grants a 15-day extension to Aug. 17.

“The Company’s Audit Committee is currently conducting a formal internal review of certain accounting practices and internal controls related to its Eros subsidiaries,” it says. “Significant revenue from these subsidiaries may not have been appropriately recognized during the fiscal year ended March 31, 2020.

“Further, a significant portion of the receivables associated with such revenue was valued at zero for the six months ended September 30, 2020, as part of the Company’s preliminary purchase price allocation” for the merger of Eros International and STX Filmworks that created Eros STX Global.

And Eros STX says it’s considering its options under various debt arrangements, including a £50 million 6.5% UK retail bond maturing on Oct. 15, 2021.

The STX Financing unit currently has $150.1M outstanding on a JPMorgan asset-backed credit facility maturing Oct. 7, and $22.7M on a mezzanine facility maturing July 7, 2022. It was required to deliver audited statements by July 31, and it’s working with lenders on options including a waiver and deadline extension.

And its’ entered into exclusive negotiations with a third party to monetize revenue from 46 films in its library – proceeds which would repay the JPM facility and the mezzanine debt.

And Eros International Media Limited has reached an agreement with its India Banking Consortium to refinance about $63M in outstanding debt, cutting its annual rate to 9% from an average of 14.5% and extending maturities.