Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-16

With regard to the convertible notes, there is a bit of complexity around the conversion of these (see 2020 AGM notice) ... but they seem to be being treated as bridging finance and are being paid down - from US$1,250,000 in 2020 to US$650,000 in 2021. Hopefully this continues as cash conversion improves and the next tranches of the debt facitlity are released, so that in the even tof acquisition the dilutionary effect is minimised.