One question why this?
”In addition to the above, the Company has entered into agreements to accept loan funds from the following sophisticated investors of $2,400,000
a) W & P Coe Pty Ltd agreed to lend the Company $150,000, repayable in cash in 3 months;(b) Anathema Pty Ltd agreed to lend the Company $200,000, repayable in cash in 12 months;(c) Grant Edwards Pty Ltd agreed to lend the Company $1,000,000, repayable in cash in 6 months;(d) Mrs Joy Elaine Hordern agreed to lend the Company $400,000, repayable in cash in 12 months;(e) Mr Anthony Phillip Hordern agreed to lend the Company $500,000, repayable in cash in 12 months;(f) Mrs Rong Xie agreed to lend the Company $50,000, repayable in cash in 12 months; and(g) Mr Peter Karas agreed to lend the Company $100,000, repayable in cash in 6 months.At any time after a minimum term of 3 months, the Company may repay any of the loans prior to the maturity date, subject to payment of a 2% early repayment fee. Lenders are entitled to interest at 20% per annum, payable monthly in arrears. The Loans are unsecured. As at the date of this announcement, the Company has received $1,762,500 (being $1,900,000 net of a 6% fee payable to Viriathus Capital Pty Ltd (Viriathus) for facilitation of the loans), with the remaining $493,500 (being $500,000 net of the 6% fee payable to Viriathus) expected to be received by close of business 17 December 2020.”
(20min delay)