Almost $210,000 AUD over the 12mths in interest.USD $1.4M loan=...

Almost $210,000 AUD over the 12mths in interest.

USD $1.4M loan= AUD $2.099M (currently)

So he's using his salary, provided by shareholder funding, to loan it back to the coffers and make an extra $210k AUD for himself !
If the company survives long enough, and the loan gets converted @40 cents US (60c AUS) I'm suspecting that if the MC of the company drops to the value of the loan by then (AUD $2.099M) he might be able to get his grubby hands on it all to himself ?

Then, if his partner-in-crime Oludare carries out a similar 'funding' exercise in a few months - imo the writing is definitely on the wall.

They haven't even got HOPE into the commencement of the clinical trial yet and now they need extra funding aside from the SPV which was designed for this very purpose of working capital.
Their partners in the SPV have (imo) probably said 'whoa hold your horses, the way you're going through this funding cannot be sustained'

It's pretty clear from last year's FY numbers that their expenditure is massive.

Consultants and Professional Fees
+
Administration Expenses
+
Director and Employee Expenses

$5,643,500 just on the above 3 categories alone !!!

That was on Revenue of only $301,121 (down from $1.5M in the previous FY)

This doesn't look good at all imho !