Alien Ltd is a strategic investor that uses its investment company to invest in various

projects and firms.

Required: Critical analysis and state whether the following activities make Alien Ltd

to include in the consolidationAlien Ltd has a substantial loan receivable from Highest Holdings, which is a

going concern. Currently, Alien Ltd holds $30\%$ of voting shares, and another

major shareholder holds $45\%.$ Due to financial stress, Highest Holdings has

agreed to convert the loans payable into shares if it becomes eminently likely

to go into administration. $[$