This $500k loan by JH should see YPB through the rest of this...

This $500k loan by JH should see YPB through the rest of this year.

It is unlikely that JH will swap the convertible note instrument for equity in YPB as this action also cancels his charge over the assets of YPB. Given the precarious state of YPB and its 's cash flow and ability to secure further funding, JH would like to continue having a charge over YPB's assets. Further, JH has done well with the loan getting interest on the loan of somewhere between 16.73 and 17.48% p.a, and which he would no longer get if he was to convert it to shares. I think he will rollover the loan for another term, if that is possible and available to him.

It really brings into sharp question YPB's management 'nous' of why they went off on a tangent and went for NVISO licensing agreement 2.0 putting up $250k of cash when even in their own words, they are not expecting any return from it "until well into 2024". It is not as if YPB has 'cash to burn'.