As far as my knowledge goes, CST Capital still have around 41 Million shares that they can convert @ 0.035 which equates to $1.435 million AUD...spot rate around 0.67 US equates to around $961,000 USD...basically clearing our loan of $2.850 Million USD.
The only way you could term the collateral shares remaining (20 Million) as debt , is if we breach the agreement, they are gifted them, but they can convert them by using the agreed formula, hence, paying us around 1 Million AUD or Brainchip can legally take them back and cancel them off the register, as the Con Note would have either been paid by Brainchip or the scenario above had taken place.
Look forward to being corrected, but that's my understanding....cheers Tech
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