Ann: Statement from John McGrath, page-18

I highlighted early on- unsecured personal
Interest free loans from McGrath Ltd to McGrath - outstanding at float- still has a line - in prospectus - even loans in the current accounts

What was the credit advanced from the company used for?

Haven’t they heard of expense claims-

Cash loans interest free to director- please show me one other company on the board with this fantastic arrangement - best package evvvvvvvvvvvvvvver

Why have a margin loan when you can take advances from the company —-mmmm- supprised tax office isn’t saying that’s income- no doubt company paid FBT on that benefit

Try that in a small business see how you go