Nothing fatal here zolloz this was the financing available when...

Nothing fatal here zolloz this was the financing available when EN1 was in turnaround. It's now about escape velocity through profitability growth (happening), SP appreciation and better terms. Teds Insto roadshow in only a few weeks will need a solution to this he will be acutely aware and presumably working on this already.

See instalments last half below. $260k paid in cash, $295k in shares. This shares based instalment is around $390k. so debt balance remaining is around $2m after this one (anyone care to validate?).

From HY
On 23 September 2019, the Company entered into an agreement with Alto Opportunity Master Fund SPC – Segregated
Master Portfolio B (“the Investor”) for the issue of zero coupon convertible amortising securities (“ZCSs”), under an initial
drawdown and up to 7 further drawdowns.
On 25 September 2019 the Company undertook the initial drawdown of a ZCS with a face value of US$2,060,000
(approximately A$3,038,000 000 at the exchange rate at drawdown date) and an issue price of US$1,750,000 (approximately
A$2,580,000 at the exchange rate at drawdown date). The ZCS has a maturity of one year after drawdown.
On 25 September 2019, the Company issued 28.5 million new collateral shares to Alto as security for the ZCS.
During the half year ended, the Company made two instalment repayments of the ZCS, one by a cash payment of
US$176,817 (A$260,000) and one by a transfer of 16,372,594, from the balance of collateral shares, with a total value of
US$176,817 (A$295,000), based on a share allocation price equal to 85% of the average of the 2 lowest daily VWAPs for
the preceding 20 trading days. As of 31 December 2019, the liability of the ZCS stands at US$1,682,000 (A$2,374,211).