Things to note on this Announcement;The date is October 3,...

Things to note on this Announcement;
The date is October 3, 2022.
That JH "has advanced $500,000 of the $1m facility".
The loan is "secured pursuant to a general security deed against the assets of YPB".
The convertible note issue matures 12 months from date of implementation.

That $500,000 was paid by JH and accepted by YPB sometime in the September 2022 quarter is confirmation of the time and dating of the implementation of the convertible note issue, and that it was before October 3, 2022. From the 4C report for the December quarter 2022, the second stage of the $m facility was paid in this December quarter.

If the maturity date is not earlier or on October 3, 2022, shareholders deserve an explanation as to why not.

In advice issued by the ASX, upon or before maturity the lender can request a swap of their loan for equity at the price provided for in the Prospectus. If at maturity, the debt is not swapped for equity, the borrower is required to payout the convertible note issue at its face value. These are the 2 governing rules.

It is in the interest of shareholders that the convertible note issue be brought to its proper conclusion, and at maturity date of the issue. Would any shareholder be happy that JH holds a security deed over the assets of YPB a second longer than is necessary? Are shareholders happy that whilst the convertible note issue is not retired, the $1m loan is costing YPB around $15,000 per month in interest charges? In the event of an insolvency, the convertible note issue has priority repayment over the claims by shareholders.

IMO, if JH uses the security deed to force YPB into 'administration', there will be nothing left for shareholders.

I just believe it is time for the ASX to ask questions why this convertible note issue is still in limbo.