Pretty clear if you read the reports & this has been known for some time this is an advance from Merlin to AXIS.
"Unsecured advances have been made to AXIS. A formal loan agreement was put in place during the year. The
loan is repayable in June 2020. The interest rate on monies advanced during the year was 8.78% (2017: 8.70%
to 8.80%). The nature of the consideration to be provided in settlement is through services provided or
repayment in cash or shares."
So if you ask me Diamond Joe & co should be providing his services to Merlin WITHOUT pay to gradually offset the $13million balance. Being a director of Axis and the key mastermind of this scheme he is responsible for that money coming back and what better way than through his own blood sweat and tears.
