It seems to me (DYOR) that repayment of the loan at 15 cents may be an appropriate way to manage the loan such that we do not pay out cash plus 8% interest ($80,000 pa). As we go into production we will need all the cash we can get our hand on. But of course that is more dilution so it depends upon the timetable for production increase being met and a resulting positive cash flow from production.
To accept the deal Alf Baker must have confidence if he is forgoing his 8% interest,
Do others have any thoughts?
Ann: Notice of General Meeting and Notice Letter to Shareholders, page-2
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