Ann: GBP 1.4m R&D Rebate Received - Convertible Loan Agreement, page-4

So can someone explain to me how we need a convertible note that is secured by the refund we got, we have to pay it back at 2% per month of interest WHY? If we spend the rebate we have not got the security and we pay compound to boot, we have the cash...WHY THE HELL DO WE NEED THE NOTE....plus the CR money on it’s way to boot. Games again. These guys must be friends of the spin twins at SYT.