Re: CBA, there is an existing facility which is can provide...

Re: CBA, there is an existing facility which is can provide advance on the R&D rebate that GSL gets from the ATO each year, up to AUD $4 m. I understand that GSL can just draw down on this as required - within the limit of course, and with interest - and that the drawn amounts are not tied to any specified kind of expenditure.

A facility funding capital equipment for the prototyping facility appears to be a separate thing. It's a bit unclear whether such a facility is up and running or not:

1. The half yearly report says, on one hand, that "The Company has commenced negotiations with a leading Australian bank on leasing/ financing options available to
   assist in the purchase of the larger capital cost plant and equipment required for our MAD prototyping facility." (this is from the notes to the Consolidated Financial Statements, under 2. Going Concern, p.14). This suggests that a facility to fund capital equipment is yet to be established.
2. On the other hand, the half yearly also states that "A Master Asset Finance Facility (MAFF) for a total limit of $234,000 was effected to assist in the financing of the business and plant operating equipment. A Term Deposit of $236,103 was provided to the bank as security for the MAFF. (this is also from the notes to the Consolidated Financial Statements, under 9. Lease Liabilities, p.18. I'm not sure why this note appears under lease liabilities, it seems to fit better under 10. Borrowings, where there is also a note about the R&D facility). This suggests that a facility to fund capital equipment is already established.

Anyone else know better than me?