Ann: Response to ASX Query Letter, page-101

How can you reconcile these two comments in September, 2019;

Announcement on September 6, 2019:

"Further to our latest loan facility update on 2 August 2019 and the Amsterdam project report on 30 August 2019, the Directors of Integrated Green Energy Solutions Ltd (“IGES” or “the Company”) are pleased to update the market on the progress of its September cycle draw-down
with Structured Growth Capital, Inc (“SGC”). In alignment with the three final phases of the construction, commissioning and ramp-up of the project, today the funding package has been submitted to the SGC funders and accepted as complete. This funding package includes all
required substantiation of the sources of funds to ensure that as funds are transferred from Deutsche Bank in Europe to DBS Bank in Asia and then into the IGES banking network, that funds can subsequently be easily moved between the international locations relevant to the
various sites. The funding package includes all required contractual information, agreed terms, funding schedules, KYC information on all relevant parties and the necessary authentication to establish a line of credit to be utilised across multiple territories. The approval of this package
formally completes the funding procedures required by SGC in line with the funding draw down that the Company announced had commenced on 12 July 2019 and confirms that all appropriate international transfers of funds by IGES, related to Amsterdam and other projects will be complete in September 2019."

and the Annual Report dated September 30, 2019 (page 42 Related Party transactions):

"Loan amounts and interest accrued payable to related parties of Paul Dickson have been capitalised and capped as part of a success fee negotiation. The amounts are entirely unsecured and provided on inferior terms to those offered to unrelated parties at the time of inception. The Company was unable to secure any external source of funding for this amount at this time. The loan offer and terms where offered to all Directors and all rejected the offer with the exception of Paul Dickson."

Unfortunately the loan drawdown didn't occur and this seems to set a pattern.