REDFLEX, page-7

Ridge and TO, the money has not been borrowed as the company has not yet finalised that U S loan from Macquarie Pratt in the U S, the terms of 12% plus a free 10% of the U S subsidiary are very hungry stuff.
Instead they are now looking at an offer from a Australian trading bank with interest rate of about half that plus no need to give away any shares.
The Pratt family apparently own 25% of Macquarie Pratt in the U S so it looks like Thorney/Pratt were keen to get some more of the action one way or another and may have succeeded if we had not had yesterday's board reshuffle.