interest calculation on debt, page-5

I should have mentioned that, although PPN again has a quorum of 3 directors following today's appointment of Michael Trimble, he is a "Related Party" as defined in the Corporations Act 2001 and cannot legally vote to grant his father's company, Metropolis City Promotions Pty Ltd, an extension for the debt which became due on 1 July 2014 and remains unpaid.  

We will soon know whether or not the directors have again extended the MCP loan term.

As the MCP debt is overdue, directors John Callanan and Michael Trimble need to immediately call a board meeting, order CEO John Trimble to leave the room, and then vote to serve a default notice on the Guarantors which include Cameron Lane Pty Ltd, the owner of the 26+ million shares that keep Trimble in power.  

Fat chance of that happening so we may yet end up in the Federal Court with a 'Statutory Derivative Action'.

It is my understanding of the PPN constitution, the serving of a default notice on Cameron Lane would mean that those 26+ million shares cannot be voted until the debt is repaid.