Re Underlying refer bold below. This is from the Bell Potter...

Re Underlying refer bold below.

This is from the Bell Potter Report dated 7 th April 2017

Debt Profile

Current debt facilities at 31 December 2016:

- $8.2m, JGB Convertible note, effective interest rate of 15%:
While the note is convertible it is at CM8s discretion and they have chosen to pay this down through free cash flow
There was a $1m re-financing charge in the first half of FY 2017 associated with the replacement of the Greensill facility with the JGB facility
CM8 may have an early settlement charge of circa. $500k to $750k in FY 2018
At the current rate of repayment this facility will be repaid by February 2018

- $7.2m vendor loan from former track owners, effective interest rate of 15%:
This facility expires in October 2018, and the company has the capacity to pay this facility out in free cash flow by the settlement date
There are no associated fees with closing this facility