As above i meant to say current liability. 120 days terms are...

As above i meant to say current liability.

120 days terms are incorrect as we both know. It is not a short term loan as in the event of a repayment trigger event (which is why the PPSR was registered as a charge over the cash component against it) - there is no way it would be repaid in 120 days should all the funds be called in. You agreed with that.

The more accurate impact would have been to shown it as a loan in a non current liability format, which I know deep down the accountant inside you knows it is. Punters never knew the extent of the drawing and I'm sure this leads us to the lack of effective corporate governance shown this week.