I agree with your thoughts @mgb76 and I would like to add a few...

I agree with your thoughts @mgb76 and I would like to add a few of my own observations to your post.

• The employee option plan vests once the company meets a minimum revenue of $6.5M which is a 41.3% increase on last year's revenue of $4.6M. If nobody has picked up on this, you now have a minimum forward revenue estimate management has set the business to achieve before staff can claim any option package... that seems like shareholder friendly approach to me.
• The exercise price for the employee options is set at 0.022c which is above the CN holders floor price and above the SSP offered to existing shareholders. Again, seems shareholder friendly.
• From previous conversations had, management advise they are not reliant on anyone customer. So while it is exciting and important to have negotiated the MSA agreement with Link, the business is not being built around that one relationship and or for that matter, any other individual relationship.
• I think, the 2 year time frame on the convertible notes, gives some projection as to when management think significant portions of the Link deal maybe concluded with substantial recurring income streams established, from which to payback the CN holders.
• I am not expecting that we will be cash flow positive in F/Y 23.
• If you are investing in the SSP, your time frame in my view, should be at least 3 years.