Well, that's just not true.
As per their quarterly:
8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:
1. Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: Yes
2. Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: Subsequent to the quarter end, as announced on 19 July 2021, the Company
successfully raised $3 million via a placement of 30 million shares at $0.10 per
share.
3. Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer: Yes. Combining the placement proceeds with the Company’s current cash
reserves provides the Company with sufficient funding for a further 3 quarters. In
addition, the Company has 55 million listed options with a $0.10 exercise price that
expire in October 2021. The funds that will potentially be raised from the exercise of
these options will further strengthen the Company’s cash reserve
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