I did receive email clarification to my questions. See below;All...

I did receive email clarification to my questions. See below;

• All financial covenants have been met at Dec-2024. Covenants are tested quarterly, and we have headroom from a forecast perspective. The covenants and the forecast position have been signed off by the auditors as part of the half year review

• The reason for the raise in Dec-24 was to support the acquisition of PDP’s

• There were large trade receivables at Dec-24, which have now been remitted to Pioneer. This had a significant impact to the Cash balance of $0.6m

The interest rate for the related party loan was set at8.77%, which aligns with the Division 7A interest rate as stipulated by theATO. While this rate is lower than the company's external borrowing cost (BBSW+ 550bps), it is a commonly accepted benchmark for related party loans.

To assess whether the transaction is at arm’s length,other factors such as the terms and conditions, security, and repaymentarrangements were also considered. Additionally, board oversight andindependent review, help ensure that related party transactions are conductedtransparently and in the best interests of the company and its shareholders.