Electro Optic Systems (ASX:EOS), an Australian-based technology firm, saw its shares slip down by 14.5% to A$0.885.

This significant intraday fall harked back to that of May 9.

This decrease marked the company’s lowest level since Sept.

The company is embroiled in a commercial dispute with lending entity, Washington H.

Soul Pattinson (ASX:SOL), over contentions regarding the terms under a specific customer contract.

The company has received an influx of demand for the payment of a A$4.5 million fee within a seven-day timeframe, a request originating from investment company SOL.

Approximately 1.3 million shares have exchanged hands at 0329 GMT, compared to the 30-day average volume of about 416,963 shares.

Despite this recent fall, EOS had managed to record an impressive increase of 113.4% YTD, as of the last closing point.

Electro Optic Systems (ASX:EOS) is an Australian technology company specialising in defence, space and communication systems.