Ann: Half Year Investor Information, page-8

"...tricky to decide if doubling down is a good or stupid move."

Tricky indeed.

They have been been dragged down by what one hopes are exceptional events, covid and the class action.

This is from the "going concern" part of the report.

"The Group has available, a suitable short-term funding facility of $36,000 thousand (as outlined in note 6) to draw as required for working capitalpurposes which have no financial covenants, but subject to Review Events (driven by current period financial performance based on a pre-definedEBITDA measure). As a Review Event has occurred based on current period performance, a waiver from the Review Event in respect of this facilityhas been received on 25 February 2022 and covers to the quarter ending 31 March 2022. The Review Event requirements have been modified for thequarters ending 30 June 2022 to 31 December 2022 with the forecast profitability in the model outlined below demonstrating that the Group willoperate within the Review Event requirements over this period. The Review Event requirements will revert back to its original conditions for the quarterending 31 March 2023."

The following makes it less likely they will go under but at the rest of us would get diluted.

"In addition, the Group has received a letter of support from significant shareholders to provide additional equity (via a rights issue) over the twelve monthsfrom the date of signing of this report should it be required. The additional cash flow from the rights issue quantum is sufficient to cover any potential shortfallin liquidity for any reasonably possible outcomes included in the forecast outlined above.

Based on the forecast and the letter of support from significant shareholders, the Group will have sufficient financial performance, cash flows and liquidity forat least 12 months from the date of signing the financial report. Accordingly, the Directors have determined it is appropriate to continue to adopt the goingconcern basis in preparing this financial report. In the event that the extent and duration of restrictions and economic impacts of COVID-19 is greater thananticipated by the Directors, the Group will be impacted."

BSA's problem has long been that they almost function as a charity because they seem only able to do their work at cost.
Why that should be is somewhat of a puzzle.

And why are the amounts of money expressed as numbers of "thousands" of dollars?
Why don't they write $36 million instead of "$36,000 thousand" ?
I don't recall ever encountering that before. Most peculiar.

Cheers