Ann: 2016 Financial Report, page-59

Just reading through the Ardent Resources Prospectus and came across this clause, does anyone know if this deal is still in place?

Factoring Facility

On 1 October 2015, IOT entered into a Trade Receivable Facility Agreement (or factoring facility) with Minerva Capital Partners Pty Ltd. The Trade Receivable Facility Agreement is secured over IOT’s accounts receivable and cash. The discount rate on accounts receivable under the Trade Receivable Facility Agreement is approximately 18% per annum. If pre orders were not to be completed into actual sales IOT would incur liability under the Trade Receivables Facility Agreement to an extent adversely affecting its cash flow and its ability to comply with its obligations to make repayments under the
agreement.