Ann: Prospectus - Convertible Notes, page-6

Good morning all.

Some questions if someone could help please.

1) When does the company actually receive proceeds from the offer?
2) According to the last 4C, the company expects to be in the red $1.8m at the end of June. This won't be covered by this funding completely and I doubt we would receive enough earnings to covert this debt in the next quarter. How long can a company operate under negative cashflow under asx rules? I wasn't able to find out.
3) How are the employees getting paid during this time? Are they being paid from the Australian arm or some other entity?

Ta.