Ann: Magnis Financing Update for IM3NY, page-450

Further, there is a very important reason why I believe, they went to change the PPSR registration to a new company.

What if the "original" company which registered the PPSR on MNS assets on 4th Dec 2023, was NOT the correct entity that LOANED out the money???

And MNS hypothetically became insolvent, say on 31st March (could be up 16th April 2024), then the Loan - the $4.6M plus interest if not paid, could be declared by the Administrator/Liquidator as Unsecured!!!

Note, the New PPSR registration (according to the D Ross's article) was registered on Wednesday, 17th April 2024.

And if declared by the Administrator/Liquidator as "Unsecured", then they will have to queue up like the rest of unsecured creditors and shareholders.

Going to be interesting few months.

AIMHO.