Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-34

In light of yesterday's announcement I would like to remind everybody of the relevant rules pertaining to disclose of plans to deal with financial situations such as this in the quarterly. Listed companies have obligations to the market in which their securities are traded. If you look at the questions and answers in the announcement under sections 8.6 you may find interesting the relevant exert from the ASX guidance to listed companies for meeting their obligations when completing this form.

"Section 8 may require the entity to disclose confidential information about an incomplete transaction, such as anew capital raising or other financial accommodation it is working on to address its cash requirements. If this is likely to cause the entity any concern or embarrassment, the proper course is not to “fudge” its disclosures in section 8 of its Appendix 4C or 5B but rather to indicate in its answers to the questions in section 8 that the entity is in incomplete and confidential negotiations for a transaction that, if successful, will improve its financial position and, if its securities are still trading, that it will be requesting a trading halt or voluntary suspension to allow it to progress the negotiations to a point where it can make a more detailed announcement to the market about the transaction."

Yesterday's announcement indicated there were 0.65 quarters of cash remaining as of Sept 30. That means 58 days and this estimate was based on cash reserves as of 25 days ago. So by their own estimate the cash should last until late Nov.

The company did not disclose any secret deal which they expect to resolve this financial situation. Likewise I acknowledge that they did not disclose any plans to perform a capital raising of any form, ie placement, rights issue, share purchase plan etc. You will note that the guidance above expects companies to disclose such things under these circumstances.

The failure to disclose any such plans coupled with knowledge of the ASX requirements for competing the quarterly infer that they have no such plans at this point in time and also that there is no secret deal. Assuming all declarations made have not overlooked anything, this leaves only one possibility that I can see, ie a repeat of 2017 and 2018. Those that know what management did in those two specific years will know what that is.