Going through the accounts again. I noticed some more little titbits.
Page 46, item 19.
"19. Current Liabilities – Interest Bearing Liabilities
The convertible loan note is secured with a fixed and floating charge over all of Prime Biologics Pte Ltd (PrIME) assets including PrIME SG$6,000,000 Singapore facility (refer to Note 26) and ranks ahead of PrIME's ordinary shares and the loans to NuSep Holdings Ltd and NuSep Pty Ltd. The interest rate for the loan is 15% per annum payable at maturity on 30th September 2013."
This note is past due and we have heard nothing?
If it was converted to shares, we would have seen a notice about the issue of more shares.
Has the loan been repaid? If so, with what money? More loan from directors at 20% interest?
Ann: Annual Financial Report 30 June 2013 , page-10
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