This is confusing. I am interpreting the second loan as replacing the first one because as you say, the first one is no longer mentioned. Also, 4K in working capital as of June 30, so haven't the loan proceeds as of June 30 been largely spent?
I took CETS to be saying that with due dilligence we could discover a loan made "personally and new", and that this was good news not a reference to a liability.
Yes, some person or people seem willing to buy at around two and a half cents.