It looks like they took shares instead for the smaller loan....

It looks like they took shares instead for the smaller loan. Forgive me, I am busy and not done my research properly. I saw this and it needed answering. There is a bit of digesting the numbers complicated by the consolidation and CR along with the rights issue, but I believe that they have taken shares for the $350K loan, sold off $150K and overall had their percentage lowered with the additional shares issued. Effectively they brought an extra $200K worth.

Now the big question is "WHY WOULD ANYONE IN THE KNOW BUY MORE CLE SHARES WHEN IT COULD EASILY HAD THE LOAN REPAID AND THEY COULD WELL NEED THE CASH?"

EUR needs money now. Admittedly they are getting their $2M back soon. The other big question is whether they take most of the money but leave $600K on the table to exercise their rights issue.
The BOD know things that they are not allowed to tell us. They told RM as part of the DD. RM have told their clients as part of getting their investors on board. We can only guess by looking at the crumbs.