Anyone know why unused financing facility states $2,248,000 when total facility amount at quarter end is $43,614,000 and amount drawn at quarter end is $15,688,000.Are there conditions on some of the finance money not being available.??
Loan facility
: Line of Credit (LoC)
Total drawn at 31 March 2020: A$13.897 million Use of funds: Working capital Lender: Eastfield/Luminous (from acquisition of Lifi Labs, Inc. dba LIFX) Interest Rate: 12% + 5% on late payments Secured or unsecured: secured by second position on receivables and inventory Payment: The remaining balance is due in May 2020 and is being renegotiated with the holder.
:Trade Finance Facility
Total drawn at 31 March 2020: A$0.398 million Loan:Trade Finance Facility Total Facility Amount: A$20 million Use of funds: Working capital and repayment of above LoC Lender: Scottish Pacific Bank Interest Rate: Prime rate plus 6.5%. Secured or unsecured: secured by receivables Term: 24 months
: Inventory Finance Facility
Total drawn at 31 March 2020: A$1.393 million Loan: Inventory Finance Facility Total Facility Amount: US$6 million (A$9.717 million at 31 March 2020) Use of funds: Working capital and repayment of above LoC Lender: The Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC InterestRate:LIBORplus9.5%. Plus a draw down fee of 0.5% of the balance drawn ,not to exceed 3% in any year. Secured or unsecured: secured by inventory at specific locations Term: 24 months
BUD Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held