Ann: Revised Terms for EGP Loan Facility, page-2

EPG has still done exceptionally well out of this transaction:
- 7% interest
- 3% line fee (so 10% on drawn funds in total)
- 2.25m options at exercisable at 12c

I guess the 10% is high, but perhaps commiserate with the risk with SP3....they have now raised ~$3m so question is whether they needed all of that and if not whether it makes sense to repay part of this loan

the hope is that they don't burn that money on short term marketing/salaries but rather capturing a decent share of the market and most importantly modularising the entire system so that it becomes cheaper & easier to roll these out at scale