Ann: H1 FY23 Results Release, page-5

I just caught up with this result today.
To put it mildly, this company has been a disappointment for some time. I've never owned their shares but have kept it on a Watchlist for several years.
The first issue here is that this report was delivered to the Exchange and, therefore, the general public after 8.00pm on Thursday night.
Their Balance sheet reflects current assets of $43m, tangible non-current assets of $43m adding up to $86m in all against current liabilities of $95m.
This makes them technically insolvent i.e. they are unable to meet their debts as they become due.
And yet they claim that their Balance Sheet remains in a solid position.
Since the balance date they have spent more money purchasing yet another business.
Best of luck getting a loan on competitive terms with their current state of play.